Hancock Whitney Corp Makes New $10.39 Million Investment in Corpay, Inc. (NYSE:CPAY)

Hancock Whitney Corp bought a new stake in Corpay, Inc. (NYSE:CPAY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 38,982 shares of the company’s stock, valued at approximately $10,385,000. Hancock Whitney Corp owned 0.06% of Corpay as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Corpay in the first quarter worth about $31,000. LGT Financial Advisors LLC bought a new position in shares of Corpay in the 2nd quarter valued at about $33,000. Sunbelt Securities Inc. acquired a new stake in shares of Corpay during the 1st quarter worth approximately $34,000. RFP Financial Group LLC bought a new stake in shares of Corpay during the first quarter worth approximately $35,000. Finally, Blue Trust Inc. lifted its holdings in Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the period. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Down 1.8 %

CPAY opened at $307.21 on Friday. 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 has a market capitalization of $21.59 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22. Corpay, Inc. has a 12-month low of $220.39 and a 12-month high of $319.94. The company has a 50 day simple moving average of $296.06.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. Corpay’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.85 EPS. As a group, analysts expect that Corpay, Inc. will post 17.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

CPAY has been the subject of several recent research reports. Bank of America dropped their target price on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Raymond James dropped their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Evercore ISI lowered their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Three 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.