Horizon Financial Services LLC Purchases 693 Shares of Corpay, Inc. (NYSE:CPAY)

Horizon Financial Services LLC grew its position in shares of Corpay, Inc. (NYSE:CPAY) by 17,325.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 697 shares of the company’s stock after buying an additional 693 shares during the quarter. Horizon Financial Services LLC’s holdings in Corpay were worth $243,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Colonial Trust Co SC increased its position in Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock valued at $33,000 after purchasing an additional 53 shares during the period. Assetmark Inc. lifted its stake in shares of Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock valued at $42,000 after purchasing an additional 60 shares during the period. EverSource Wealth Advisors LLC lifted its position in Corpay by 70.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company’s stock valued at $45,000 after buying an additional 55 shares during the period. Rakuten Securities Inc. purchased a new stake in shares of Corpay in the 1st quarter worth about $45,000. Finally, Knuff & Co LLC bought a new position in shares of Corpay in the 4th quarter worth about $54,000. 98.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CPAY. Wall Street Zen raised shares of Corpay from a “hold” rating to a “buy” rating in a research note on Monday. Raymond James Financial reiterated an “outperform” rating and issued a $414.00 price target (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Barclays cut their price target on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. UBS Group lowered their price objective on Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Finally, Oppenheimer started coverage on Corpay in a report on Monday, April 28th. They set a “market perform” rating on the stock. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $401.86.

Corpay Stock Up 2.2%

Corpay stock opened at $339.08 on Wednesday. Corpay, Inc. has a one year low of $264.87 and a one year high of $400.81. The stock has a fifty day moving average of $330.93 and a 200 day moving average of $342.85. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $23.90 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm earned $4.10 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts predict that Corpay, Inc. will post 19.76 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.