HB Wealth Management LLC Acquires New Position in Corpay, Inc. (NYSE:CPAY)

HB Wealth Management LLC bought a new position in Corpay, Inc. (NYSE:CPAYFree Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 946 shares of the company’s stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in shares of Corpay during the first quarter valued at about $142,035,000. Wedge Capital Management L L P NC bought a new position in Corpay during the 1st quarter valued at approximately $87,708,000. Cornerstone Investment Partners LLC purchased a new stake in Corpay in the 1st quarter worth approximately $67,259,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Corpay in the 1st quarter worth approximately $52,600,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Corpay in the 1st quarter worth approximately $33,840,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

Corpay stock opened at $270.48 on Friday. The firm has a market cap of $19.01 billion, a PE ratio of 20.13, a P/E/G ratio of 1.03 and a beta of 1.20. The company has a fifty day moving average of $272.48. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $319.94.

Corpay (NYSE:CPAYGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. The business had revenue of $935.25 million for the quarter, compared to the consensus estimate of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. Sell-side analysts predict that Corpay, Inc. will post 17.84 EPS for the current year.

Wall Street Analyst Weigh In

CPAY has been the subject of several research analyst reports. Wolfe Research cut shares of Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 target price for the company. in a research report on Friday, May 17th. Robert W. Baird lifted their price objective on Corpay from $355.00 to $376.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research report on Friday, June 21st. BMO Capital Markets dropped their price target on Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, Evercore ISI decreased their price objective on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and an average price target of $335.20.

View Our Latest Stock Report on Corpay

About Corpay

(Free Report)

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.

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Institutional Ownership by Quarter for Corpay (NYSE:CPAY)

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