Dimensional Fund Advisors LP Increases Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Dimensional Fund Advisors LP boosted its position in shares of Corpay, Inc. (NYSE:CPAY) by 10.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 718,752 shares of the company’s stock after purchasing an additional 70,408 shares during the period. Dimensional Fund Advisors LP owned approximately 1.02% of Corpay worth $191,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CPAY. Los Angeles Capital Management LLC purchased a new stake in Corpay in the first quarter valued at $33,840,000. GAMMA Investing LLC acquired a new position in Corpay in the first quarter valued at about $149,000. Pensionfund Sabic purchased a new position in Corpay during the first quarter worth about $1,327,000. Beese Fulmer Investment Management Inc. purchased a new position in Corpay during the first quarter worth about $1,398,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in shares of Corpay during the first quarter valued at about $61,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Performance

CPAY stock opened at $312.78 on Friday. The stock’s 50 day moving average price is $295.65. The stock has a market capitalization of $21.98 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. 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 quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million for 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%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $3.85 EPS. Equities analysts forecast that Corpay, Inc. will post 17.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Raymond James lowered their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wolfe Research upgraded 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 report on Thursday, August 8th. Evercore ISI lowered their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

Corpay Company 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.