605 Shares in Corpay, Inc. $CPAY Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 605 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in Corpay in the 1st quarter worth about $41,000. Rakuten Securities Inc. acquired a new stake in shares of Corpay in the first quarter valued at about $45,000. Larson Financial Group LLC increased its stake in shares of Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock valued at $60,000 after buying an additional 130 shares during the period. Whipplewood Advisors LLC increased its stake in shares of Corpay by 648.0% in the first quarter. Whipplewood Advisors LLC now owns 187 shares of the company’s stock valued at $65,000 after buying an additional 162 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Corpay by 22.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 261 shares of the company’s stock valued at $91,000 after buying an additional 47 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James Financial set a $392.00 price target on Corpay and gave the company an “outperform” rating in a research note on Thursday, August 7th. UBS Group cut their target price on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Morgan Stanley cut their target price on Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 target price on the stock. Finally, Wall Street Zen lowered Corpay from a “buy” rating to a “hold” rating in a research report on Saturday. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus target price of $399.43.

Corpay Trading Down 0.6%

NYSE CPAY opened at $300.01 on Tuesday. Corpay, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The stock has a 50-day moving average of $319.27 and a 200-day moving average of $325.88. The firm has a market cap of $21.18 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.14 and a beta of 1.00.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company posted $4.55 EPS. Corpay’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current 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.