802 Shares in Corpay, Inc. (NYSE:CPAY) Purchased by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. purchased a new position in shares of Corpay, Inc. (NYSE:CPAY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 802 shares of the company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in Corpay in the 1st quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new stake in Corpay in the 1st quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new stake in Corpay in the 1st quarter valued at approximately $34,000. RFP Financial Group LLC purchased a new stake in Corpay in the 1st quarter valued at approximately $35,000. Finally, Hollencrest Capital Management purchased a new stake in Corpay in the 1st quarter valued at approximately $46,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analysts Set New Price Targets

CPAY has been the topic of several research analyst reports. Wells Fargo & Company assumed coverage on Corpay in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price target on the stock. Robert W. Baird increased their target price on Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research report on Friday, June 21st. BMO Capital Markets cut 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, Citigroup increased their target price on Corpay from $325.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.91.

Corpay Price Performance

Shares of Corpay stock opened at $285.98 on Thursday. The firm’s 50-day simple moving average is $270.13. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $20.10 billion, a P/E ratio of 21.28, a PEG ratio of 1.11 and a beta of 1.20. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $319.94.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. The company had revenue of $935.25 million during the quarter, compared to the consensus estimate of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. On average, equities analysts expect that Corpay, Inc. will post 17.82 earnings per share 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.