Corpay, Inc. $CPAY Shares Bought by IFG Advisory LLC

IFG Advisory LLC raised its position in Corpay, Inc. (NYSE:CPAY) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,993 shares of the company’s stock after acquiring an additional 71 shares during the period. IFG Advisory LLC’s holdings in Corpay were worth $5,307,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. CVA Family Office LLC increased its holdings in shares of Corpay by 56.7% in the 2nd quarter. CVA Family Office LLC now owns 94 shares of the company’s stock valued at $31,000 after purchasing an additional 34 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new position in shares of Corpay in the 2nd quarter valued at about $33,000. Ameritas Advisory Services LLC purchased a new position in shares of Corpay in the 2nd quarter valued at about $37,000. Zions Bancorporation National Association UT purchased a new position in shares of Corpay in the 1st quarter valued at about $41,000. Finally, Larson Financial Group LLC increased its holdings in shares of Corpay by 309.5% in the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock valued at $60,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CPAY shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corpay in a report on Wednesday, October 8th. Morgan Stanley dropped their target price on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Wall Street Zen downgraded shares of Corpay from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Keefe, Bruyette & Woods dropped their target price on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Finally, Raymond James Financial set a $392.00 target price on shares of Corpay and gave the company an “outperform” rating in a report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $395.58.

Corpay Trading Down 4.9%

Shares of CPAY stock opened at $255.02 on Friday. The stock has a market cap of $18.01 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a fifty-two week low of $254.39 and a fifty-two week high of $400.81. The firm’s 50 day moving average price is $298.88 and its two-hundred day moving average price is $317.16.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. Corpay’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.55 earnings per share. On average, analysts anticipate 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.