Capital International Ltd. CA Takes $1.18 Million Position in Corpay, Inc. (NYSE:CPAY)

Capital International Ltd. CA bought a new stake in Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,836 shares of the company’s stock, valued at approximately $1,184,000.

Several other institutional investors have also modified their holdings of CPAY. Chevy Chase Trust Holdings LLC purchased a new position in shares of Corpay in the first quarter worth about $12,335,000. Empirical Finance LLC acquired a new position in shares of Corpay in the first quarter valued at approximately $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Corpay in the first quarter valued at approximately $1,013,000. Agate Pass Investment Management LLC acquired a new position in shares of Corpay in the first quarter valued at approximately $3,937,000. Finally, Commerce Bank acquired a new position in shares of Corpay in the first quarter valued at approximately $6,631,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Evercore ISI reduced their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Jefferies Financial Group boosted their price objective on shares of Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Wells Fargo & Company initiated coverage on shares of Corpay in a research report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price target for the company. Robert W. Baird upped their price target on shares of Corpay from $355.00 to $376.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Wolfe Research downgraded shares of Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 price target for the company. in a research report on Friday, May 17th. One 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 stock. According to MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.91.

Corpay Trading Up 2.3 %

Shares of NYSE:CPAY traded up $6.61 on Friday, reaching $292.17. 316,001 shares of the company were exchanged, compared to its average volume of 470,561. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $319.94. The company has a market capitalization of $20.53 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.10 and a beta of 1.20. The stock’s 50-day simple moving average is $270.44.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The business had revenue of $935.25 million for the quarter, compared to analysts’ expectations of $936.25 million. As a group, analysts forecast that Corpay, Inc. will post 17.82 earnings per share for the current year.

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.