Yarra Square Partners LP Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Yarra Square Partners LP bought a new stake in Corpay, Inc. (NYSE:CPAY) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 21,717 shares of the company’s stock, valued at approximately $6,701,000. Corpay accounts for approximately 5.8% of Yarra Square Partners LP’s holdings, making the stock its 6th largest holding.

A number of other institutional investors also recently made changes to their positions in CPAY. Sciencast Management LP acquired a new stake in shares of Corpay during the 1st quarter valued at approximately $231,000. LSV Asset Management acquired a new stake in shares of Corpay during the 1st quarter valued at approximately $15,155,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Corpay during the 1st quarter valued at approximately $966,000. Empirical Finance LLC acquired a new stake in shares of Corpay during the 1st quarter valued at approximately $829,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new stake in shares of Corpay during the 1st quarter valued at approximately $15,060,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Performance

CPAY traded up $6.02 on Friday, hitting $286.44. 536,248 shares of the company were exchanged, compared to its average volume of 481,982. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The company has a market cap of $20.13 billion, a P/E ratio of 21.31, a PEG ratio of 1.05 and a beta of 1.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48. The company has a fifty day moving average price of $270.07.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CPAY. Evercore ISI dropped their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research report on Friday, June 21st. Barclays dropped their target price on Corpay from $355.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. JPMorgan Chase & Co. decreased their price target on Corpay from $330.00 to $326.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Robert W. Baird increased their price target on Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $334.36.

Corpay 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.