BI Asset Management Fondsmaeglerselskab A S Acquires Shares of 3,283 Corpay, Inc. (NYSE:CPAY)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,283 shares of the company’s stock, valued at approximately $1,013,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Global Retirement Partners LLC bought a new position in Corpay in the 1st quarter valued at $25,000. Sunbelt Securities Inc. acquired a new stake in Corpay in the first quarter worth about $34,000. Hollencrest Capital Management bought a new stake in Corpay during the 1st quarter worth about $46,000. Oakworth Capital Inc. acquired a new position in Corpay during the 1st quarter valued at about $52,000. Finally, Byrne Asset Management LLC bought a new position in shares of Corpay in the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CPAY shares. Bank of America increased their price objective on shares of Corpay from $326.00 to $331.00 and gave the company a “buy” rating in a report on Friday, June 21st. Robert W. Baird raised their price target on Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Barclays dropped their price objective on Corpay from $355.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Evercore ISI cut their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company began coverage on Corpay in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and an average target price of $335.20.

Corpay Trading Down 0.5 %

Shares of NYSE CPAY traded down $1.22 during mid-day trading on Wednesday, reaching $268.25. 99,164 shares of the company’s stock were exchanged, compared to its average volume of 476,282. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $319.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $18.85 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.04 and a beta of 1.20. The firm’s fifty day moving average is $271.16.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The firm had revenue of $935.25 million for the quarter, compared to the consensus estimate of $936.25 million. Equities research analysts predict that Corpay, Inc. will post 17.84 earnings per share for the current fiscal 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.