State of Alaska Department of Revenue Makes New Investment in Corpay, Inc. (NYSE:CPAY)

State of Alaska Department of Revenue purchased a new position in shares of Corpay, Inc. (NYSE:CPAY) during the first quarter, Holdings Channel.com reports. The fund purchased 30,087 shares of the company’s stock, valued at approximately $9,282,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new stake in shares of Corpay during the 1st quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Corpay during the 1st quarter worth approximately $61,000. Financial Management Professionals Inc. acquired a new stake in shares of Corpay during the 1st quarter worth approximately $130,000. GAMMA Investing LLC acquired a new stake in shares of Corpay during the 1st quarter worth approximately $149,000. Finally, Wedmont Private Capital acquired a new stake in shares of Corpay during the 1st quarter worth approximately $242,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Robert W. Baird increased their price target on Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Citigroup raised their target price on Corpay from $325.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Evercore ISI lowered their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. BMO Capital Markets lowered their target price on Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, Wells Fargo & Company assumed coverage on Corpay in a research report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $335.20.

Corpay Stock Down 0.3 %

NYSE CPAY traded down $0.87 on Wednesday, reaching $267.39. 270,292 shares of the stock traded hands, compared to its average volume of 477,479. The stock’s fifty day moving average price is $274.64. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $18.79 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. The firm had revenue of $935.25 million during the quarter, compared to analyst estimates of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. As a group, equities research analysts forecast that Corpay, Inc. will post 17.84 EPS for the current fiscal 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.