Hillsdale Investment Management Inc. Invests $586,000 in Corpay, Inc. (NYSE:CPAY)

Hillsdale Investment Management Inc. acquired a new stake in Corpay, Inc. (NYSE:CPAY) in the first quarter, Holdings Channel reports. The institutional investor acquired 1,900 shares of the company’s stock, valued at approximately $586,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new stake in Corpay in the first quarter valued at about $2,431,089,000. JPMorgan Chase & Co. bought a new stake in Corpay in the first quarter valued at about $1,429,445,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Corpay in the first quarter valued at about $12,069,000. Jupiter Asset Management Ltd. bought a new stake in Corpay in the first quarter valued at about $72,007,000. Finally, Mizuho Markets Americas LLC bought a new stake in Corpay in the first quarter valued at about $14,518,000. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CPAY. Jefferies Financial Group upped their price objective on Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Bank of America increased their price target on Corpay from $326.00 to $331.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Wells Fargo & Company assumed coverage on Corpay in a report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price target for the company. Citigroup increased their price target on Corpay from $325.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Evercore ISI lowered their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $333.91.

Corpay Trading Down 0.1 %

Shares of CPAY stock traded down $0.41 on Tuesday, hitting $289.94. 34,767 shares of the stock were exchanged, compared to its average volume of 472,256. The business has a 50-day moving average of $269.87. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week 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 cap of $20.37 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 1.12 and a beta of 1.20.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, beating 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 firm had revenue of $935.25 million during the quarter, compared to analysts’ expectations of $936.25 million. As a group, research analysts forecast that Corpay, Inc. will post 17.83 EPS for the current fiscal 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.