Corpay, Inc. (NYSE:CPAY) Stock Holdings Lifted by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its position in Corpay, Inc. (NYSE:CPAY) by 22.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,062 shares of the company’s stock after acquiring an additional 198 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Corpay were worth $332,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPAY. Albion Financial Group UT purchased a new stake in shares of Corpay in the third quarter valued at $27,000. Headlands Technologies LLC purchased a new stake in Corpay in the 1st quarter worth about $31,000. RFP Financial Group LLC purchased a new stake in Corpay in the 1st quarter worth about $35,000. LGT Financial Advisors LLC acquired a new stake in Corpay during the 2nd quarter worth about $33,000. Finally, Innealta Capital LLC purchased a new position in Corpay during the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Down 0.0 %

Shares of Corpay stock opened at $329.67 on Tuesday. Corpay, Inc. has a 12-month low of $221.37 and a 12-month high of $355.47. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a 50 day moving average price of $322.76 and a two-hundred day moving average price of $295.07. The stock has a market capitalization of $22.89 billion, a P/E ratio of 23.96, a PEG ratio of 1.30 and a beta of 1.21.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. Corpay’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $3.85 EPS. Equities analysts expect that Corpay, Inc. will post 17.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CPAY shares. Morgan Stanley increased their price target on shares of Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Barclays boosted their price target on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Bank of America increased their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company lifted their price objective on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $353.46.

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.