Mutual of America Capital Management LLC Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Mutual of America Capital Management LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,056 shares of the company’s stock, valued at approximately $3,745,000.

A number of other large investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in Corpay during the 1st quarter worth about $31,000. Sunbelt Securities Inc. bought a new position in shares of Corpay during the first quarter valued at approximately $34,000. RFP Financial Group LLC purchased a new position in Corpay during the first quarter valued at approximately $35,000. LGT Financial Advisors LLC bought a new position in Corpay in the second quarter worth approximately $33,000. Finally, Innealta Capital LLC purchased a new stake in Corpay during the second quarter worth $36,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CPAY. Evercore ISI reduced their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Bank of America decreased their price target on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group lifted their price objective on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Raymond James lowered their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.58.

Corpay Stock Performance

Shares of CPAY opened at $307.21 on Monday. 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’s 50-day moving average price is $296.06. The firm has a market cap of $21.59 billion, a PE ratio of 22.86, a P/E/G ratio of 1.22 and a beta of 1.22. Corpay, Inc. has a one year low of $220.39 and a one year high of $319.94.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating 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 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 firm earned $3.85 earnings per share. Corpay’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts predict that Corpay, Inc. will post 17.81 EPS for the current fiscal 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.