Seven Eight Capital LP Takes Position in Corpay, Inc. (NYSE:CPAY)

Seven Eight Capital LP purchased a new position in shares of Corpay, Inc. (NYSE:CPAY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,411 shares of the company’s stock, valued at approximately $1,708,000.

Several other large investors have also bought and sold shares of CPAY. Headlands Technologies LLC bought a new stake in shares of Corpay during the 1st quarter valued at $31,000. LGT Financial Advisors LLC acquired a new stake in shares of Corpay during the second quarter worth $33,000. Sunbelt Securities Inc. bought a new stake in Corpay in the first quarter valued at about $34,000. RFP Financial Group LLC bought a new position in Corpay during the first quarter worth about $35,000. Finally, Blue Trust Inc. grew its position in shares of Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Performance

NYSE:CPAY opened at $307.71 on Thursday. The stock’s 50-day moving average price is $295.00. Corpay, Inc. has a 52-week low of $220.39 and a 52-week high of $319.94. The company has a market capitalization of $21.62 billion, a P/E ratio of 22.90, a PEG ratio of 1.22 and a beta of 1.22. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $973.84 million. During the same quarter in the prior year, the firm posted $3.85 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, research analysts predict that Corpay, Inc. will post 17.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CPAY. Jefferies Financial Group increased their price target on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company initiated coverage on shares of Corpay in a report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 target price on the stock. Bank of America decreased their price target on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, August 8th. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $334.58.

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.