Venturi Wealth Management LLC Acquires 399 Shares of Corpay, Inc. $CPAY

Venturi Wealth Management LLC boosted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 29.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,758 shares of the company’s stock after purchasing an additional 399 shares during the period. Venturi Wealth Management LLC’s holdings in Corpay were worth $583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Select Equity Group L.P. lifted its stake in shares of Corpay by 1,302.3% in the 1st quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company’s stock valued at $425,054,000 after acquiring an additional 1,131,975 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Corpay by 4,811.9% in the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company’s stock valued at $194,326,000 after acquiring an additional 545,907 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Corpay by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after acquiring an additional 472,147 shares during the last quarter. Nuveen LLC bought a new position in shares of Corpay in the 1st quarter valued at $104,428,000. Finally, Wellington Management Group LLP lifted its stake in shares of Corpay by 30.7% in the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock valued at $444,639,000 after acquiring an additional 299,452 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

NYSE CPAY opened at $290.49 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The stock has a fifty day simple moving average of $308.83 and a 200 day simple moving average of $321.61. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.11 and a beta of 0.97.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company posted $4.55 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. Sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CPAY. Morgan Stanley dropped their price target on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Keefe, Bruyette & Woods dropped their price target on Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price objective for the company. Finally, Wall Street Zen upgraded Corpay from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and an average price target of $396.21.

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.