Plato Investment Management Ltd Acquires Shares of 629 Corpay, Inc. (NYSE:CPAY)

Plato Investment Management Ltd acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 629 shares of the company’s stock, valued at approximately $194,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chevy Chase Trust Holdings LLC acquired a new stake in shares of Corpay during the 1st quarter worth approximately $12,335,000. Empirical Finance LLC acquired a new stake in Corpay in the 1st quarter valued at approximately $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Corpay in the 1st quarter valued at approximately $1,013,000. Agate Pass Investment Management LLC acquired a new stake in Corpay in the 1st quarter valued at approximately $3,937,000. Finally, EP Wealth Advisors LLC acquired a new stake in Corpay in the 1st quarter valued at approximately $949,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPAY has been the topic of several analyst reports. Barclays lowered 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. Wolfe Research lowered Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 price target for the company. in a research note on Friday, May 17th. Robert W. Baird increased their price target on Corpay from $355.00 to $376.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Bank of America increased their price target on Corpay from $326.00 to $331.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $333.91.

Corpay Price Performance

Shares of CPAY traded down $6.92 during trading hours on Thursday, hitting $284.90. 502,866 shares of the company were exchanged, compared to its average volume of 466,427. The company has a market capitalization of $20.02 billion, a P/E ratio of 21.21, a PEG ratio of 1.14 and a beta of 1.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. The business’s fifty day moving average is $271.60. Corpay, Inc. has a one year low of $220.39 and a one year high of $319.94.

Corpay (NYSE:CPAY) last issued 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. The business had revenue of $935.25 million during the quarter, compared to analysts’ expectations of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. Sell-side analysts expect that Corpay, Inc. will post 17.82 EPS 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.