Blue Trust Inc. Boosts Stake in Corpay, Inc. (NYSE:CPAY)

Blue Trust Inc. increased its position in Corpay, Inc. (NYSE:CPAY) by 299.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 539 shares of the company’s stock after buying an additional 404 shares during the period. Blue Trust Inc.’s holdings in Corpay were worth $169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Albion Financial Group UT purchased a new stake in Corpay during the third quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new stake in Corpay during the first quarter valued at approximately $31,000. LGT Financial Advisors LLC purchased a new stake in Corpay during the second quarter valued at approximately $33,000. Sunbelt Securities Inc. purchased a new stake in Corpay during the first quarter valued at approximately $34,000. Finally, RFP Financial Group LLC bought a new position in shares of Corpay during the first quarter valued at approximately $35,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Down 0.9 %

Shares of NYSE CPAY opened at $340.72 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $23.66 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The stock’s fifty day simple moving average is $318.41 and its two-hundred day simple moving average is $293.73. Corpay, Inc. has a 12-month low of $220.39 and a 12-month high of $355.47.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.85 EPS. As a group, analysts expect that Corpay, Inc. will post 17.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CPAY has been the topic of a number of analyst reports. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Bank of America upped their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Raymond James cut their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets upped their target price on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $353.33.

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.