Federated Hermes Inc. Has $67,000 Stake in Corpay, Inc. (NYSE:CPAY)

Federated Hermes Inc. lifted its position in shares of Corpay, Inc. (NYSE:CPAY) by 3,514.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 253 shares of the company’s stock after purchasing an additional 246 shares during the period. Federated Hermes Inc.’s holdings in Corpay were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in shares of Corpay during the first quarter worth $2,431,089,000. JPMorgan Chase & Co. acquired a new stake in Corpay in the 1st quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD bought a new stake in Corpay in the 1st quarter valued at about $1,355,377,000. Boston Partners acquired a new position in shares of Corpay during the 1st quarter worth approximately $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new position in shares of Corpay during the 1st quarter worth approximately $553,279,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

NYSE CPAY opened at $304.72 on Thursday. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The company has a market capitalization of $21.16 billion, a PE ratio of 22.67, a PEG ratio of 1.24 and a beta of 1.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The business’s fifty day moving average is $296.81.

Corpay (NYSE:CPAY) last issued 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 return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter in the prior year, the firm earned $3.85 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that Corpay, Inc. will post 17.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CPAY. Evercore ISI cut their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Raymond James reduced their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Bank of America cut their price objective on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Jefferies Financial Group raised their target price on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Three 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $334.58.

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.