Virtu Financial LLC Acquires 2,953 Shares of Corpay, Inc. (NYSE:CPAY)

Virtu Financial LLC grew its holdings in Corpay, Inc. (NYSE:CPAY) by 159.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,801 shares of the company’s stock after acquiring an additional 2,953 shares during the quarter. Virtu Financial LLC’s holdings in Corpay were worth $1,674,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of Corpay by 11.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 77,672 shares of the company’s stock valued at $26,286,000 after purchasing an additional 7,881 shares during the period. Federated Hermes Inc. raised its position in Corpay by 6,150.0% in the 4th quarter. Federated Hermes Inc. now owns 250 shares of the company’s stock valued at $85,000 after buying an additional 246 shares during the last quarter. Covestor Ltd lifted its stake in Corpay by 31.4% in the 4th quarter. Covestor Ltd now owns 276 shares of the company’s stock valued at $93,000 after acquiring an additional 66 shares in the last quarter. Optimize Financial Inc acquired a new position in Corpay during the 4th quarter worth approximately $357,000. Finally, Mariner LLC boosted its position in Corpay by 11.2% during the 4th quarter. Mariner LLC now owns 9,986 shares of the company’s stock worth $3,379,000 after acquiring an additional 1,005 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE:CPAY opened at $301.73 on Monday. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. 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’s 50-day simple moving average is $329.21 and its 200 day simple moving average is $338.07. The firm has a market capitalization of $21.31 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.14 and a beta of 0.96.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Corpay in a report on Monday, April 28th. They set a “market perform” rating for the company. Wells Fargo & Company lowered their target price on Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Raymond James Financial reduced their price target on Corpay from $414.00 to $392.00 and set an “outperform” rating for the company in a research report on Thursday. UBS Group dropped their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Wall Street Zen raised shares of Corpay from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and a consensus target price of $397.93.

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.