IFG Advisory LLC Has $5.31 Million Position in Corpay, Inc. $CPAY

IFG Advisory LLC boosted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,993 shares of the company’s stock after acquiring an additional 71 shares during the quarter. IFG Advisory LLC’s holdings in Corpay were worth $5,307,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Corpay by 18.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,481 shares of the company’s stock valued at $2,594,000 after buying an additional 1,189 shares in the last quarter. Amalgamated Bank increased its stake in shares of Corpay by 2.2% in the first quarter. Amalgamated Bank now owns 15,152 shares of the company’s stock valued at $5,284,000 after buying an additional 331 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Corpay by 2.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,254 shares of the company’s stock valued at $2,878,000 after buying an additional 189 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Corpay in the first quarter valued at $213,000. Finally, Pinnacle Financial Partners Inc increased its stake in shares of Corpay by 0.3% in the first quarter. Pinnacle Financial Partners Inc now owns 28,037 shares of the company’s stock valued at $9,777,000 after buying an additional 86 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Performance

Shares of CPAY stock opened at $255.02 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $18.01 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The stock has a 50-day moving average of $298.88 and a 200-day moving average of $317.16. Corpay, Inc. has a one year low of $254.39 and a one year high of $400.81.

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Weiss Ratings reissued 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. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a report on Thursday, July 17th. They set a “buy” rating and a $390.00 price objective for the company. Raymond James Financial set a $392.00 price objective on Corpay and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Morgan Stanley dropped their price objective on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $395.58.

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.