First Citizens Bank & Trust Co. Increases Stock Position in Corpay, Inc. (NYSE:CPAY)

First Citizens Bank & Trust Co. grew its position in Corpay, Inc. (NYSE:CPAY) by 6.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,792 shares of the company’s stock after purchasing an additional 109 shares during the period. First Citizens Bank & Trust Co.’s holdings in Corpay were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Corpay by 299.3% in the third quarter. Blue Trust Inc. now owns 539 shares of the company’s stock valued at $169,000 after purchasing an additional 404 shares during the last quarter. Generate Investment Management Ltd raised its holdings in shares of Corpay by 33.8% in the third quarter. Generate Investment Management Ltd now owns 98,156 shares of the company’s stock valued at $30,699,000 after purchasing an additional 24,810 shares during the last quarter. Inspire Advisors LLC increased its holdings in Corpay by 6.0% during the third quarter. Inspire Advisors LLC now owns 1,876 shares of the company’s stock worth $587,000 after buying an additional 107 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Corpay by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,877 shares of the company’s stock worth $2,464,000 after buying an additional 123 shares during the last quarter. Finally, Vista Investment Partners LLC increased its holdings in Corpay by 1.2% during the third quarter. Vista Investment Partners LLC now owns 5,826 shares of the company’s stock worth $1,822,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of NYSE:CPAY opened at $353.51 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $24.84 billion, a PE ratio of 26.30, a P/E/G ratio of 1.33 and a beta of 1.22. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $355.47. The company has a 50-day moving average price of $312.40 and a two-hundred day moving average price of $292.18.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same period last year, the business earned $3.85 earnings per share. Corpay’s revenue was up 2.9% compared to the same quarter last year. Equities analysts forecast that Corpay, Inc. will post 17.83 EPS for the current year.

Wall Street Analyst Weigh In

CPAY has been the subject of a number of research analyst reports. Bank of America raised their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Barclays raised their price objective on shares of Corpay from $330.00 to $385.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Finally, Jefferies Financial Group raised their price objective on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $350.42.

Corpay Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.