129,483 Shares in Corpay, Inc. (NYSE:CPAY) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in Corpay, Inc. (NYSE:CPAY) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 129,483 shares of the company’s stock, valued at approximately $40,497,000. International Assets Investment Management LLC owned about 0.18% of Corpay at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Sunbelt Securities Inc. purchased a new stake in shares of Corpay during the first quarter worth $34,000. Wealth Enhancement Advisory Services LLC bought a new position in Corpay in the 1st quarter worth about $995,000. Hennion & Walsh Asset Management Inc. purchased a new position in Corpay during the 1st quarter valued at about $318,000. State of Michigan Retirement System bought a new stake in shares of Corpay during the first quarter valued at about $6,104,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Corpay in the 1st quarter worth about $52,600,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CPAY. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research report on Thursday, August 8th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Bank of America lifted their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets lifted their price target on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $353.33.

Corpay Trading Down 0.9 %

NYSE:CPAY opened at $340.72 on Monday. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $355.47. 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 company has a 50-day moving average price of $318.41 and a 200-day moving average price of $293.66. The stock has a market cap of $23.66 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.39 and a beta of 1.22.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share 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 analysts’ expectations 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 firm posted $3.85 EPS. Equities analysts predict that Corpay, Inc. will post 17.83 EPS for the current year.

Corpay Company 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.