Corpay, Inc. (NYSE:CPAY) Position Lifted by Cerity Partners LLC

Cerity Partners LLC raised its stake in shares of Corpay, Inc. (NYSE:CPAY) by 6.2% during the first quarter, HoldingsChannel reports. The fund owned 33,385 shares of the company’s stock after acquiring an additional 1,942 shares during the quarter. Cerity Partners LLC’s holdings in Corpay were worth $11,642,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fulton Bank N.A. boosted its stake in Corpay by 2.1% during the 1st quarter. Fulton Bank N.A. now owns 1,665 shares of the company’s stock valued at $581,000 after acquiring an additional 34 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Corpay by 3.2% in the 1st quarter. Wedmont Private Capital now owns 1,110 shares of the company’s stock worth $387,000 after buying an additional 34 shares during the last quarter. Continuum Advisory LLC lifted its position in shares of Corpay by 29.6% in the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company’s stock worth $62,000 after buying an additional 42 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Corpay by 1.6% in the 1st quarter. Fifth Third Bancorp now owns 2,691 shares of the company’s stock worth $938,000 after buying an additional 43 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC lifted its position in shares of Corpay by 3.5% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 1,298 shares of the company’s stock worth $453,000 after buying an additional 44 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CPAY. Robert W. Baird set a $440.00 price target on shares of Corpay in a research report on Tuesday, June 10th. Wall Street Zen downgraded shares of Corpay from a “buy” rating to a “hold” rating in a research report on Tuesday, July 8th. Barclays reduced their price target on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Oppenheimer began coverage on shares of Corpay in a research report on Monday, April 28th. They issued a “market perform” rating on the stock. Finally, Raymond James Financial restated an “outperform” rating and issued a $414.00 price target (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $401.86.

Corpay Trading Up 0.6%

Shares of NYSE:CPAY opened at $326.35 on Tuesday. The company has a market cap of $23.00 billion, a PE ratio of 22.89, a P/E/G ratio of 1.36 and a beta of 0.95. The company’s 50-day moving average price is $332.75 and its 200 day moving average price is $342.07. Corpay, Inc. has a fifty-two week low of $265.06 and a fifty-two week high of $400.81. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69.

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

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.