Sequoia Financial Advisors LLC Acquires 70 Shares of Corpay, Inc. (NYSE:CPAY)

Sequoia Financial Advisors LLC raised its holdings in Corpay, Inc. (NYSE:CPAY) by 5.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,390 shares of the company’s stock after buying an additional 70 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Corpay were worth $435,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in Corpay in the first quarter valued at $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in shares of Corpay in the 1st quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Corpay during the 1st quarter valued at about $1,355,377,000. Boston Partners purchased a new position in shares of Corpay during the first quarter valued at about $553,667,000. Finally, Sustainable Growth Advisers LP bought a new position in Corpay in the first quarter worth about $553,279,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on CPAY shares. Jefferies Financial Group lifted their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their price target on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company upped their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.33.

Corpay Trading Down 0.9 %

CPAY stock opened at $340.72 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.39 and a beta of 1.22. The business has a 50 day simple moving average of $318.41 and a two-hundred day simple moving average of $293.66. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $355.47.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same period last year, the firm posted $3.85 earnings per share. Corpay’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts anticipate that Corpay, Inc. will post 17.83 EPS for the current fiscal year.

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.