Yarra Square Partners LP Purchases 2,100 Shares of Corpay, Inc. (NYSE:CPAY)

Yarra Square Partners LP boosted its position in Corpay, Inc. (NYSE:CPAY) by 9.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,817 shares of the company’s stock after buying an additional 2,100 shares during the quarter. Corpay makes up about 5.7% of Yarra Square Partners LP’s holdings, making the stock its 7th biggest position. Yarra Square Partners LP’s holdings in Corpay were worth $6,345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Corpay in the 1st quarter worth $31,000. LGT Financial Advisors LLC acquired a new stake in Corpay in the 2nd quarter worth $33,000. Sunbelt Securities Inc. acquired a new stake in Corpay in the 1st quarter worth $34,000. RFP Financial Group LLC acquired a new stake in Corpay in the 1st quarter worth $35,000. Finally, Blue Trust Inc. grew its position in Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CPAY. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Evercore ISI decreased their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Raymond James decreased their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $334.58.

Corpay Stock Down 1.8 %

NYSE:CPAY opened at $307.21 on Friday. The firm has a market capitalization of $21.59 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.22 and a beta of 1.22. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50-day moving average price of $296.06.

Corpay (NYSE:CPAY) last released 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. The firm had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.85 earnings per share. On average, research analysts expect that Corpay, Inc. will post 17.81 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.