Lombard Odier Asset Management Europe Ltd Invests $1.40 Million in Corpay, Inc. (NYSE:CPAY)

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,250 shares of the company’s stock, valued at approximately $1,399,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Epic Trust Investment Advisors LLC boosted its holdings in shares of Corpay by 4.1% in the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after buying an additional 39 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after acquiring an additional 43 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Corpay by 4.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock worth $352,000 after purchasing an additional 54 shares during the period. Capital Insight Partners LLC increased its holdings in Corpay by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock worth $601,000 after purchasing an additional 55 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Corpay by 0.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock valued at $2,066,000 after purchasing an additional 71 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CPAY. Jefferies Financial Group increased their price objective on Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. 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. Bank of America cut their price objective on shares of Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company assumed coverage on shares of Corpay in a research report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 target price for the company. Finally, Raymond James cut their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $334.58.

Corpay Trading Up 1.5 %

CPAY opened at $311.67 on Tuesday. 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 firm has a fifty day simple moving average of $296.51. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $319.94. The company has a market cap of $21.90 billion, a PE ratio of 23.19, a PEG ratio of 1.22 and a beta of 1.22.

Corpay (NYSE:CPAY) last posted its earnings results 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. The company had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. Corpay’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.85 EPS. Equities analysts forecast that Corpay, Inc. will post 17.81 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.