Public Employees Retirement System of Ohio Takes Position in Corpay, Inc. (NYSE:CPAY)

Public Employees Retirement System of Ohio purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 37,353 shares of the company’s stock, valued at approximately $11,525,000. Public Employees Retirement System of Ohio owned about 0.05% of Corpay at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. acquired a new stake in shares of Corpay during the 1st quarter valued at about $2,431,089,000. JPMorgan Chase & Co. acquired a new stake in Corpay in the 1st quarter worth approximately $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new stake in Corpay in the 1st quarter worth approximately $1,355,377,000. Sustainable Growth Advisers LP acquired a new stake in Corpay in the 1st quarter worth approximately $553,279,000. Finally, Mawer Investment Management Ltd. acquired a new stake in Corpay in the 1st quarter worth approximately $359,436,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPAY has been the subject of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a report on Friday, June 21st. Evercore ISI reduced their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group boosted their target price on Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. dropped their price target on Corpay from $330.00 to $326.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Citigroup lifted their price target 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 assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.91.

Corpay Price Performance

Shares of CPAY traded up $1.49 on Monday, reaching $293.66. 109,035 shares of the stock traded hands, compared to its average volume of 468,050. The firm has a market cap of $20.64 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The stock’s 50-day moving average is $270.44.

Corpay (NYSE:CPAY) last released its quarterly earnings data 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 business had revenue of $935.25 million for the quarter, compared to analysts’ expectations 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 17.82 earnings per share for the current fiscal year.

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.