Capital Investment Services of America Inc. Purchases 50 Shares of Corpay, Inc. $CPAY

Capital Investment Services of America Inc. boosted its position in shares of Corpay, Inc. (NYSE:CPAY) by 0.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,206 shares of the company’s stock after purchasing an additional 50 shares during the quarter. Corpay comprises 2.3% of Capital Investment Services of America Inc.’s holdings, making the stock its 19th biggest position. Capital Investment Services of America Inc.’s holdings in Corpay were worth $25,618,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Select Equity Group L.P. boosted its stake in Corpay by 1,302.3% in the first 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. increased its holdings in Corpay by 4,811.9% in the first quarter. Bessemer Group Inc. now owns 557,252 shares of the company’s stock valued at $194,326,000 after purchasing an additional 545,907 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock worth $1,648,970,000 after buying an additional 472,147 shares during the period. Nuveen LLC acquired a new stake in shares of Corpay in the 1st quarter valued at approximately $104,428,000. Finally, Wellington Management Group LLP increased its stake in Corpay by 30.7% in the first quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock valued at $444,639,000 after purchasing an additional 299,452 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CPAY. Morgan Stanley lowered their price target on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Keefe, Bruyette & Woods dropped their target price on Corpay from $445.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a report on Wednesday, October 8th. Wall Street Zen cut Corpay from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, UBS Group lowered their price target on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $395.58.

Corpay Trading Down 1.5%

Shares of NYSE:CPAY opened at $283.22 on Thursday. The stock has a market cap of $20.00 billion, a PE ratio of 19.24, a P/E/G ratio of 1.09 and a beta of 0.97. The business has a 50 day moving average of $303.82 and a 200-day moving average of $318.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company posted $4.55 earnings per share. Corpay’s revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current 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.