Maryland State Retirement & Pension System purchased a new position in Corpay, Inc. (NYSE:CPAY – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,487 shares of the company’s stock, valued at approximately $1,622,000.
Other large investors also recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in shares of Corpay in the first quarter worth $34,000. Massmutual Trust Co. FSB ADV purchased a new stake in Corpay during the 1st quarter valued at about $61,000. Financial Management Professionals Inc. bought a new stake in Corpay during the 1st quarter valued at about $130,000. GAMMA Investing LLC purchased a new position in Corpay in the first quarter worth about $149,000. Finally, First Trust Direct Indexing L.P. bought a new position in shares of Corpay in the first quarter worth approximately $229,000. 98.84% of the stock is owned by hedge funds and other institutional investors.
Corpay Price Performance
Shares of CPAY stock traded up $1.37 on Friday, hitting $268.76. 28,700 shares of the stock traded hands, compared to its average volume of 473,938. The stock has a market cap of $18.89 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.03 and a beta of 1.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48. The business has a 50 day moving average price of $273.14. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94.
Wall Street Analyst Weigh In
CPAY has been the topic of several recent analyst reports. Robert W. Baird increased their target price on Corpay from $355.00 to $376.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Evercore ISI reduced their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research report on Friday, June 21st. Barclays decreased their target price on shares of Corpay from $355.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. Finally, Jefferies Financial Group raised their target price on Corpay from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $335.20.
Read Our Latest Report on CPAY
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.
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