Corpay, Inc. (NYSE:CPAY) Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC raised its stake in Corpay, Inc. (NYSE:CPAY) by 10.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,107 shares of the company’s stock after purchasing an additional 382 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Corpay were worth $1,079,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CPAY. Vanguard Group Inc. purchased a new position in Corpay in the 1st quarter valued at $2,431,089,000. JPMorgan Chase & Co. acquired a new position in shares of Corpay during the first quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new position in Corpay during the first quarter worth about $1,355,377,000. Boston Partners purchased a new position in Corpay during the first quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new stake in Corpay in the first quarter valued at about $553,279,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

Corpay stock opened at $311.67 on Tuesday. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The stock has a market capitalization of $21.90 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22. The business’s fifty day moving average is $296.51. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS 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 analysts’ expectations of $973.84 million. During the same quarter last year, the business posted $3.85 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Corpay, Inc. will post 17.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Raymond James cut their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. 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 report on Wednesday, September 18th. Finally, Wells Fargo & Company initiated coverage on shares of Corpay in a report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price objective on the stock. Three equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

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.