Corpay, Inc. (NYSE:CPAY) Shares Acquired by Vident Advisory LLC

Vident Advisory LLC grew its holdings in Corpay, Inc. (NYSE:CPAY) by 4.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,198 shares of the company’s stock after buying an additional 97 shares during the quarter. Vident Advisory LLC’s holdings in Corpay were worth $744,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CPAY. Invesco Ltd. lifted its holdings in shares of Corpay by 163.7% in the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock valued at $570,801,000 after buying an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Corpay by 20.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock valued at $1,976,651,000 after purchasing an additional 1,000,699 shares in the last quarter. Norges Bank purchased a new position in Corpay in the 4th quarter valued at approximately $241,739,000. Raymond James Financial Inc. purchased a new position in Corpay in the 4th quarter valued at approximately $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new position in Corpay in the 4th quarter valued at approximately $116,179,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CPAY. Raymond James reaffirmed an “outperform” rating and issued a $414.00 price objective (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Oppenheimer began coverage on Corpay in a research note on Monday, April 28th. They issued a “market perform” rating for the company. Finally, Royal Bank of Canada raised their price objective on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $395.07.

Corpay Stock Performance

Corpay stock opened at $324.50 on Monday. The company has a market capitalization of $22.87 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.32 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The stock has a fifty day moving average of $327.64 and a two-hundred day moving average of $350.37.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating analysts’ consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.10 earnings per share. On average, analysts anticipate that Corpay, Inc. will post 19.76 EPS 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.