Freedom Investment Management Inc. Boosts Holdings in Corpay, Inc. $CPAY

Freedom Investment Management Inc. lifted its stake in Corpay, Inc. (NYSE:CPAY) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,778 shares of the company’s stock after buying an additional 165 shares during the period. Freedom Investment Management Inc.’s holdings in Corpay were worth $922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hazlett Burt & Watson Inc. acquired a new position in Corpay in the second quarter valued at $33,000. Ameritas Advisory Services LLC acquired a new position in Corpay in the second quarter valued at $37,000. Zions Bancorporation National Association UT acquired a new position in Corpay in the first quarter valued at $41,000. Larson Financial Group LLC increased its stake in 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 purchasing an additional 130 shares during the period. Finally, Blue Trust Inc. increased its stake in Corpay by 19.4% in the second quarter. Blue Trust Inc. now owns 246 shares of the company’s stock valued at $82,000 after purchasing an additional 40 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Down 0.0%

CPAY stock opened at $284.36 on Friday. The company has a fifty day moving average of $302.43 and a 200-day moving average of $318.00. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $20.08 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.08 and a beta of 0.97. Corpay, Inc. has a one year low of $269.02 and a one year high of $400.81.

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

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a research note on Friday. UBS Group dropped their price objective on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Morgan Stanley reduced their target price on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $395.58.

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.