Corpay, Inc. (NYSE:CPAY) Holdings Lifted by Forsta AP Fonden

Forsta AP Fonden increased its position in shares of Corpay, Inc. (NYSE:CPAY) by 8.7% during the third quarter, Holdings Channel.com reports. The fund owned 12,500 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Forsta AP Fonden’s holdings in Corpay were worth $3,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPAY. Albion Financial Group UT acquired a new position in shares of Corpay in the 3rd quarter worth approximately $27,000. Headlands Technologies LLC bought a new stake in Corpay during the first quarter worth approximately $31,000. LGT Financial Advisors LLC acquired a new position in Corpay in the second quarter worth approximately $33,000. RFP Financial Group LLC acquired a new position in Corpay in the first quarter worth approximately $35,000. Finally, Blue Trust Inc. increased its holdings in shares of Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after buying an additional 96 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Bank of America increased their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets lifted their target price on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Four 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $353.46.

Corpay Price Performance

NYSE CPAY opened at $332.02 on Wednesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $23.33 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The company has a 50 day simple moving average of $320.15 and a 200-day simple moving average of $294.12. Corpay, Inc. has a 52-week low of $220.39 and a 52-week high of $355.47.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $973.84 million. During the same quarter in the prior year, the firm earned $3.85 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict 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.