Fulton Bank N.A. Acquires 85 Shares of Corpay, Inc. (NYSE:CPAY)

Fulton Bank N.A. grew its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 6.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,506 shares of the company’s stock after acquiring an additional 85 shares during the period. Fulton Bank N.A.’s holdings in Corpay were worth $471,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CPAY. William Blair raised Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Raymond James cut their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Jefferies Financial Group raised their price target on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. 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’s stock. According to data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus target price of $337.92.

Corpay Stock Performance

Shares of CPAY opened at $337.06 on Wednesday. The company has a market cap of $23.68 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 1.24 and a beta of 1.22. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $339.93. The business’s 50 day moving average is $301.41. 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 issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. During the same period last year, the business earned $3.85 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Corpay, Inc. will post 17.83 earnings per share 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.