The Manufacturers Life Insurance Company Has $11.93 Million Position in Corpay, Inc. (NYSE:CPAY)

The Manufacturers Life Insurance Company lessened its position in Corpay, Inc. (NYSE:CPAY) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,775 shares of the company’s stock after selling 587 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Corpay worth $11,933,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CPAY. Headlands Technologies LLC acquired a new position in Corpay in the first quarter valued at about $31,000. Sunbelt Securities Inc. acquired a new position in shares of Corpay in the 1st quarter worth approximately $34,000. RFP Financial Group LLC bought a new stake in Corpay during the 1st quarter worth approximately $35,000. LGT Financial Advisors LLC acquired a new stake in Corpay during the 2nd quarter valued at $33,000. Finally, Innealta Capital LLC bought a new position in Corpay in the 2nd quarter valued at $36,000. Institutional investors own 98.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Raymond James lowered their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Evercore ISI dropped their target price 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. Jefferies Financial Group increased their price target on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets increased their price objective on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday. Three investment 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.92.

Corpay Trading Up 0.7 %

NYSE CPAY opened at $318.95 on Friday. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $321.78. The firm has a 50-day moving average of $299.84. 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 company has a market capitalization of $22.41 billion, a P/E ratio of 23.73, a PEG ratio of 1.24 and a beta of 1.22.

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

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.