Corpay, Inc. (NYSE:CPAY) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its stake in shares of Corpay, Inc. (NYSE:CPAY) by 38.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,061 shares of the company’s stock after acquiring an additional 294 shares during the period. Bleakley Financial Group LLC’s holdings in Corpay were worth $332,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Mather Group LLC. lifted its position in shares of Corpay by 21.2% in the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after buying an additional 35 shares during the last quarter. Epic Trust Investment Advisors LLC lifted its position in Corpay by 4.1% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after purchasing an additional 39 shares during the last quarter. 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 purchasing an additional 43 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Corpay by 6.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 812 shares of the company’s stock valued at $254,000 after purchasing an additional 49 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Corpay by 4.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock valued at $352,000 after purchasing an additional 54 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. BMO Capital Markets lifted their price objective on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Raymond James cut their price objective 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. Finally, Evercore ISI dropped their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and an average target price of $353.33.

Corpay Stock Performance

Shares of CPAY opened at $348.97 on Wednesday. The firm’s 50 day moving average is $315.11 and its 200-day moving average is $292.79. The stock has a market capitalization of $24.52 billion, a P/E ratio of 25.97, a P/E/G ratio of 1.33 and a beta of 1.22. 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, Inc. has a 12-month low of $220.39 and a 12-month high of $355.47.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million for 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%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.85 EPS. Equities research analysts anticipate that Corpay, Inc. will post 17.83 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.