Blue Trust Inc. Boosts Stake in Corpay, Inc. (NYSE:CPAY)

Blue Trust Inc. increased its position in Corpay, Inc. (NYSE:CPAY) by 299.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 539 shares of the company’s stock after acquiring an additional 404 shares during the period. Blue Trust Inc.’s holdings in Corpay were worth $169,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CPAY. Albion Financial Group UT bought a new stake in shares of Corpay in the third quarter worth $27,000. Headlands Technologies LLC bought a new stake in shares of Corpay in the first quarter worth $31,000. LGT Financial Advisors LLC bought a new stake in shares of Corpay in the second quarter worth $33,000. Sunbelt Securities Inc. bought a new stake in shares of Corpay in the first quarter worth $34,000. Finally, RFP Financial Group LLC bought a new stake in shares of Corpay in the first quarter worth $35,000. Institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of Corpay stock opened at $340.72 on Friday. The stock’s 50-day simple moving average is $318.41 and its 200-day simple moving average is $293.73. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $355.47. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.39 and a beta of 1.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.85 earnings per share. As a group, analysts expect that Corpay, Inc. will post 17.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPAY has been the subject of several research analyst reports. Barclays lifted their price objective on Corpay from $330.00 to $385.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Wells Fargo & Company boosted their price target on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Three 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.33.

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.