MBB Public Markets I LLC Purchases Shares of 5,220 Corpay, Inc. (NYSE:CPAY)

MBB Public Markets I LLC bought a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,220 shares of the company’s stock, valued at approximately $1,391,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deerfield Management Company L.P. Series C purchased a new stake in shares of Corpay during the second quarter worth about $277,000. Alpha DNA Investment Management LLC lifted its holdings in Corpay by 27.4% in the second quarter. Alpha DNA Investment Management LLC now owns 1,598 shares of the company’s stock worth $426,000 after acquiring an additional 344 shares during the last quarter. Toronto Dominion Bank acquired a new position in Corpay during the 2nd quarter valued at approximately $9,175,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Corpay by 51.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,079 shares of the company’s stock worth $3,484,000 after acquiring an additional 4,458 shares during the last quarter. Finally, Distillate Capital Partners LLC bought a new position in Corpay in the 2nd quarter worth about $14,643,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analysts Set New Price Targets

CPAY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Evercore ISI reduced their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Raymond James reduced their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group boosted their target price on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America lowered their price objective on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Corpay presently has an average rating of “Moderate Buy” and an average target price of $334.58.

Corpay Stock Up 1.5 %

CPAY stock opened at $311.24 on Monday. The business’s 50-day moving average price is $297.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $319.94. The firm has a market capitalization of $21.87 billion, a P/E ratio of 23.16, a PEG ratio of 1.24 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, beating 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 company had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same period in the previous year, the business earned $3.85 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Corpay, Inc. will post 17.83 EPS for the current year.

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.