Allworth Financial LP Boosts Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Allworth Financial LP increased its position in Corpay, Inc. (NYSE:CPAYFree Report) by 246.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 443 shares of the company’s stock after acquiring an additional 315 shares during the period. Allworth Financial LP’s holdings in Corpay were worth $139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPAY. Albion Financial Group UT purchased a new position in shares of Corpay in the third quarter worth $27,000. Headlands Technologies LLC bought a new stake in Corpay in the 1st quarter worth about $31,000. LGT Financial Advisors LLC purchased a new position in Corpay in the 2nd quarter worth about $33,000. RFP Financial Group LLC bought a new position in Corpay during the 1st quarter valued at about $35,000. Finally, Blue Trust Inc. boosted its holdings in shares of Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares during the last quarter. 98.84% of the stock is owned by institutional investors.

Corpay Stock Performance

Shares of NYSE CPAY opened at $331.88 on Thursday. The company has a market cap of $23.32 billion, a P/E ratio of 24.69, a P/E/G ratio of 1.39 and a beta of 1.22. Corpay, Inc. has a 52-week low of $221.37 and a 52-week high of $355.47. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s fifty day moving average is $320.90 and its two-hundred day moving average is $294.39.

Corpay (NYSE:CPAYGet Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. During the same period in the previous year, the firm posted $3.85 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. As a group, analysts anticipate that Corpay, Inc. will post 17.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CPAY shares. JPMorgan Chase & Co. increased their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. BMO Capital Markets raised their price target on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Bank of America upped their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Morgan Stanley raised their target price on Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their price objective on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $353.46.

Read Our Latest Report on Corpay

About Corpay

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CPAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corpay, Inc. (NYSE:CPAYFree Report).

Institutional Ownership by Quarter for Corpay (NYSE:CPAY)

Receive News & Ratings for Corpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corpay and related companies with MarketBeat.com's FREE daily email newsletter.