Corpay, Inc. (NYSE:CPAY) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 60.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 775 shares of the company’s stock after acquiring an additional 293 shares during the quarter. GAMMA Investing LLC’s holdings in Corpay were worth $206,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CPAY. Global Retirement Partners LLC acquired a new position in shares of Corpay during the 1st quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in Corpay in the 1st quarter valued at about $31,000. Sunbelt Securities Inc. acquired a new position in Corpay in the 1st quarter valued at about $34,000. RFP Financial Group LLC purchased a new stake in shares of Corpay in the 1st quarter valued at approximately $35,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Corpay during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CPAY. BMO Capital Markets decreased their price objective on Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Wolfe Research lowered Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 price target on the stock. in a research note on Friday, May 17th. Wells Fargo & Company started coverage on Corpay in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price objective for the company. Bank of America upped their target price on shares of Corpay from $326.00 to $331.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research report on Friday, June 21st. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $333.91.

Corpay Stock Performance

NYSE CPAY traded up $6.20 on Tuesday, reaching $272.11. The stock had a trading volume of 175,884 shares, compared to its average volume of 465,431. The firm has a market capitalization of $19.12 billion, a PE ratio of 19.78, a P/E/G ratio of 1.09 and a beta of 1.20. Corpay, Inc. has a 12-month low of $220.39 and a 12-month high of $319.94. The company’s 50-day moving average is $272.00. 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 (NYSE:CPAY) last released its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. The firm had revenue of $935.25 million during the quarter, compared to the consensus estimate of $936.25 million. Corpay had a net margin of 26.29% and a return on equity of 36.97%. On average, sell-side analysts predict that Corpay, Inc. will post 17.82 earnings per share for the current year.

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.