American Century Companies Inc. Grows Position in Corpay, Inc. (NYSE:CPAY)

American Century Companies Inc. raised its stake in Corpay, Inc. (NYSE:CPAY) by 1,734.1% in the second quarter, HoldingsChannel.com reports. The fund owned 400,662 shares of the company’s stock after purchasing an additional 378,817 shares during the quarter. American Century Companies Inc.’s holdings in Corpay were worth $106,740,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in Corpay in the 1st quarter valued at about $25,000. Headlands Technologies LLC purchased a new stake in shares of Corpay during the first quarter worth about $31,000. Sunbelt Securities Inc. acquired a new position in shares of Corpay in the first quarter valued at approximately $34,000. RFP Financial Group LLC purchased a new position in shares of Corpay during the first quarter valued at approximately $35,000. Finally, LGT Financial Advisors LLC acquired a new stake in Corpay during the second quarter worth approximately $33,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Trading Up 0.5 %

Shares of CPAY stock opened at $307.43 on Friday. The company has a fifty day simple moving average of $292.85. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94. The stock has a market cap of $21.34 billion, a P/E ratio of 22.87, a PEG ratio of 1.22 and a beta of 1.22.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The company had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same period last year, the company posted $3.85 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that Corpay, Inc. will post 17.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CPAY. William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Jefferies Financial Group raised their price target on Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. Finally, Wells Fargo & Company started coverage on shares of Corpay in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price target for the company. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $332.50.

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.