Forsta AP Fonden Buys Shares of 13,500 Corpay, Inc. (NYSE:CPAY)

Forsta AP Fonden bought a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,500 shares of the company’s stock, valued at approximately $4,165,000.

Other large investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Corpay during the 1st quarter valued at $25,000. Sunbelt Securities Inc. acquired a new stake in Corpay during the 1st quarter valued at $34,000. Hollencrest Capital Management acquired a new stake in Corpay during the 1st quarter valued at $46,000. Oakworth Capital Inc. acquired a new stake in Corpay during the 1st quarter valued at $52,000. Finally, Byrne Asset Management LLC acquired a new position in shares of Corpay in the first quarter worth $54,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Price Performance

CPAY stock opened at $287.39 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07. Corpay, Inc. has a 52-week low of $220.39 and a 52-week high of $319.94. The company’s 50-day moving average price is $270.07. The company has a market capitalization of $20.19 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 1.10 and a beta of 1.20.

Corpay (NYSE:CPAY) last released its quarterly earnings results 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. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The company had revenue of $935.25 million during the quarter, compared to analysts’ expectations of $936.25 million. Equities analysts expect that Corpay, Inc. will post 17.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CPAY shares. Wolfe Research downgraded shares of 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. JPMorgan Chase & Co. dropped their price target on shares of Corpay from $330.00 to $326.00 and set an “overweight” rating on the stock in a research note on Friday. BMO Capital Markets dropped their price target on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Bank of America upped their price target on shares of Corpay from $326.00 to $331.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Jefferies Financial Group upped their price objective on shares of Corpay from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $334.36.

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.