Lecap Asset Management Ltd. Takes $2.70 Million Position in Corpay, Inc. (NYSE:CPAY)

Lecap Asset Management Ltd. bought a new position in shares of Corpay, Inc. (NYSE:CPAY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,631 shares of the company’s stock, valued at approximately $2,699,000.

Several other hedge funds have also recently modified their holdings of the stock. Signaturefd LLC increased its stake in Corpay by 22.3% during the 3rd quarter. Signaturefd LLC now owns 252 shares of the company’s stock worth $79,000 after buying an additional 46 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Corpay by 5.3% in the third quarter. Sequoia Financial Advisors LLC now owns 1,390 shares of the company’s stock worth $435,000 after acquiring an additional 70 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Corpay by 22.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after purchasing an additional 34 shares in the last quarter. Suncoast Equity Management raised its stake in Corpay by 3.7% in the 3rd quarter. Suncoast Equity Management now owns 4,053 shares of the company’s stock valued at $1,268,000 after purchasing an additional 145 shares during the last quarter. Finally, Violich Capital Management Inc. lifted its holdings in Corpay by 52.1% in the 3rd quarter. Violich Capital Management Inc. now owns 7,300 shares of the company’s stock valued at $2,283,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE CPAY opened at $348.97 on Wednesday. The stock has a fifty day simple moving average of $315.11 and a 200-day simple moving average of $292.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market cap of $24.52 billion, a PE ratio of 25.97, a P/E/G ratio of 1.33 and a beta of 1.22. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $355.47.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same quarter last year, the firm posted $3.85 earnings per share. Corpay’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Corpay, Inc. will post 17.83 earnings per share for the current year.

Wall Street Analyst Weigh In

CPAY has been the subject of a number of research reports. William Blair raised shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Jefferies Financial Group increased their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bank of America boosted their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company upped their price target on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Barclays lifted their price objective on Corpay from $330.00 to $385.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $353.33.

About Corpay

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.