Pacer Advisors Inc. Boosts Stock Position in Corpay, Inc. (NYSE:CPAY)

Pacer Advisors Inc. raised its stake in Corpay, Inc. (NYSE:CPAY) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,807 shares of the company’s stock after purchasing an additional 246 shares during the period. Pacer Advisors Inc.’s holdings in Corpay were worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Epic Trust Investment Advisors LLC grew its stake in shares of Corpay by 4.1% during the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after acquiring an additional 39 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Corpay by 21.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after acquiring an additional 43 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Corpay by 4.3% during the second quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock worth $352,000 after acquiring an additional 54 shares during the last quarter. Capital Insight Partners LLC grew its stake in shares of Corpay by 2.5% during the second quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock worth $601,000 after acquiring an additional 55 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Corpay by 0.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock worth $2,066,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 0.6 %

Shares of NYSE:CPAY opened at $306.57 on Friday. Corpay, Inc. has a 12-month low of $220.39 and a 12-month high of $319.94. The firm has a market capitalization of $21.29 billion, a P/E ratio of 22.81, a PEG ratio of 1.24 and a beta of 1.22. The firm has a 50 day moving average of $296.95. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping 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 business had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same period in the prior year, the company posted $3.85 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. Equities research analysts predict that Corpay, Inc. will post 17.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CPAY. William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company initiated coverage on Corpay in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price target on the stock. Jefferies Financial Group lifted their target price on Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 target price on shares of Corpay in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $334.58.

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.