Sanctuary Advisors LLC Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Sanctuary Advisors LLC bought a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,934 shares of the company’s stock, valued at approximately $515,000.

Other hedge funds have also made changes to their positions in the company. Headlands Technologies LLC bought a new position in Corpay during the 1st quarter valued at $31,000. LGT Financial Advisors LLC bought a new position in shares of Corpay during the second quarter worth about $33,000. Sunbelt Securities Inc. acquired a new position in Corpay in the first quarter worth about $34,000. RFP Financial Group LLC bought a new stake in Corpay in the first quarter valued at about $35,000. Finally, Blue Trust Inc. increased 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 last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Barclays increased their target price on shares of Corpay from $330.00 to $385.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Bank of America raised their price target on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group boosted their price objective on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and a consensus price target of $346.25.

Corpay Price Performance

NYSE CPAY opened at $342.54 on Wednesday. The company has a 50-day moving average price of $308.24 and a two-hundred day moving average price of $291.36. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $343.86. The stock has a market cap of $24.07 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last issued its quarterly earnings data 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 return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same period in the prior year, the company posted $3.85 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts forecast that Corpay, Inc. will post 17.83 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.