DRW Securities LLC Takes $248,000 Position in Corpay, Inc. (NYSE:CPAY)

DRW Securities LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 932 shares of the company’s stock, valued at approximately $248,000.

Other large investors have also recently bought and sold shares of the company. Heron Bay Capital Management raised its stake in shares of Corpay by 11.0% during the 2nd quarter. Heron Bay Capital Management now owns 17,186 shares of the company’s stock worth $4,579,000 after purchasing an additional 1,703 shares in the last quarter. ProShare Advisors LLC increased its holdings in Corpay by 2.0% during the second quarter. ProShare Advisors LLC now owns 14,266 shares of the company’s stock worth $3,801,000 after buying an additional 278 shares during the last quarter. Yarra Square Partners LP raised its position in Corpay by 9.7% during the second quarter. Yarra Square Partners LP now owns 23,817 shares of the company’s stock worth $6,345,000 after acquiring an additional 2,100 shares in the last quarter. Hancock Whitney Corp acquired a new stake in Corpay in the second quarter valued at $10,385,000. Finally, Symmetry Investments LP bought a new position in shares of Corpay in the 2nd quarter valued at about $386,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPAY has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Evercore ISI dropped their price objective on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $334.58.

Corpay Stock Performance

CPAY stock opened at $311.67 on Tuesday. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94. The firm has a market capitalization of $21.90 billion, a P/E ratio of 23.19, a PEG ratio of 1.22 and a beta of 1.22. The company has a 50-day simple moving average of $296.51. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same quarter in the prior year, the business posted $3.85 EPS. The business’s 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 year.

Corpay 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.