Long Path Partners LP Has $37.47 Million Position in Corpay, Inc. (NYSE:CPAY)

Long Path Partners LP increased its holdings in Corpay, Inc. (NYSE:CPAY) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,660 shares of the company’s stock after purchasing an additional 3,209 shares during the quarter. Corpay makes up approximately 14.9% of Long Path Partners LP’s holdings, making the stock its 2nd largest holding. Long Path Partners LP owned about 0.20% of Corpay worth $37,473,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research firms have recently commented on CPAY. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Evercore ISI decreased their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Jefferies Financial Group boosted their price objective on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Three 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’s stock. According to data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $334.58.

Corpay Trading Up 1.5 %

Shares of CPAY opened at $311.67 on Tuesday. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The company’s fifty day simple moving average is $296.51. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market cap 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.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million during 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%. During the same period in the previous year, the business posted $3.85 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts forecast that Corpay, Inc. will post 17.81 EPS for the current year.

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.