Lake Street Advisors Group LLC Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Lake Street Advisors Group LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 907 shares of the company’s stock, valued at approximately $284,000.

A number of other hedge funds also recently modified their holdings of CPAY. Mount Yale Investment Advisors LLC raised its position in Corpay by 10.1% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 1,740 shares of the company’s stock worth $544,000 after purchasing an additional 159 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Corpay by 27.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 1,204 shares of the company’s stock valued at $377,000 after buying an additional 259 shares during the period. International Assets Investment Management LLC bought a new position in shares of Corpay during the third quarter worth about $40,497,000. Greenleaf Trust bought a new position in shares of Corpay during the third quarter worth about $574,000. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Corpay in the third quarter worth approximately $2,699,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on CPAY shares. Bank of America raised their price target on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company boosted their target price on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group increased their price target on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Finally, William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $353.33.

Corpay Trading Down 0.9 %

NYSE CPAY opened at $340.72 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $355.47. The business has a 50 day moving average price of $318.41 and a 200-day moving average price of $293.73. The company has a market cap of $23.66 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.39 and a beta of 1.22.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.04. The firm had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.85 earnings per share. As a group, equities analysts expect that Corpay, Inc. will post 17.83 earnings per share for the current fiscal year.

Corpay Company 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.