Freedom Investment Management Inc. Increases Position in Corpay, Inc. $CPAY

Freedom Investment Management Inc. increased its stake in Corpay, Inc. (NYSE:CPAY) by 6.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,778 shares of the company’s stock after purchasing an additional 165 shares during the quarter. Freedom Investment Management Inc.’s holdings in Corpay were worth $922,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Atria Wealth Solutions Inc. increased its holdings in Corpay by 4.7% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 695 shares of the company’s stock valued at $231,000 after acquiring an additional 31 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in Corpay by 5.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 678 shares of the company’s stock valued at $236,000 after acquiring an additional 32 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Corpay by 0.7% during the 1st quarter. Townsquare Capital LLC now owns 4,520 shares of the company’s stock worth $1,576,000 after purchasing an additional 32 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Corpay by 0.3% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,666 shares of the company’s stock worth $4,417,000 after purchasing an additional 35 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Corpay by 19.4% during the 2nd quarter. Blue Trust Inc. now owns 246 shares of the company’s stock worth $82,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

CPAY opened at $284.36 on Friday. The company’s 50 day simple moving average is $302.43 and its 200 day simple moving average is $318.00. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81. The stock has a market capitalization of $20.08 billion, a PE ratio of 19.32, a P/E/G ratio of 1.08 and a beta of 0.97.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.09 billion. During the same period last year, the company earned $4.55 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a research note on Thursday, July 17th. They set a “buy” rating and a $390.00 price target on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Wall Street Zen cut shares of Corpay from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corpay in a research note on Friday. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $395.58.

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.