Exchange Traded Concepts LLC Purchases New Stake in Corpay, Inc. (NYSE:CPAY)

Exchange Traded Concepts LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 175 shares of the company’s stock, valued at approximately $55,000.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. raised its holdings in shares of Corpay by 21.2% during the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock valued at $63,000 after buying an additional 35 shares during the period. Epic Trust Investment Advisors LLC lifted its position in shares of Corpay by 4.1% during the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after purchasing an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Corpay by 21.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after purchasing an additional 43 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Corpay by 4.3% during 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 in the last quarter. Finally, Capital Insight Partners LLC grew 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 valued at $601,000 after purchasing an additional 55 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CPAY shares. Raymond James decreased 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. Bank of America raised their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their price target on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, William Blair raised Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Three investment 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $353.33.

Corpay Trading Up 1.6 %

NYSE:CPAY opened at $354.38 on Thursday. The firm has a market capitalization of $24.90 billion, a P/E ratio of 26.37, a P/E/G ratio of 1.33 and a beta of 1.22. The business has a 50 day simple moving average of $316.44 and a 200 day simple moving average of $293.22. 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 released its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million during 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 quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.85 earnings per share. Equities research analysts predict that Corpay, Inc. will post 17.83 EPS for the current year.

Corpay 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.