State of Alaska Department of Revenue Buys New Holdings in Corpay, Inc. (NYSE:CPAY)

State of Alaska Department of Revenue bought a new stake in Corpay, Inc. (NYSE:CPAY) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 30,087 shares of the company’s stock, valued at approximately $9,282,000.

A number of other large investors have also recently bought and sold shares of CPAY. Sunbelt Securities Inc. purchased a new stake in Corpay in the 1st quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV purchased a new stake in Corpay in the 1st quarter worth approximately $61,000. Financial Management Professionals Inc. purchased a new stake in Corpay in the 1st quarter worth approximately $130,000. GAMMA Investing LLC purchased a new stake in Corpay in the 1st quarter worth approximately $149,000. Finally, Wedmont Private Capital purchased a new stake in Corpay in the 1st quarter worth approximately $242,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPAY. BMO Capital Markets decreased their target price on Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research note on Friday, June 21st. Barclays reduced their price objective on Corpay from $355.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. Robert W. Baird increased their price objective on Corpay from $355.00 to $376.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group increased their price objective on Corpay from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $335.20.

Corpay Stock Performance

Shares of CPAY traded down $0.87 during midday trading on Wednesday, hitting $267.39. The company had a trading volume of 270,292 shares, compared to its average volume of 477,479. The company has a 50-day moving average price of $274.64. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 1.02 and a beta of 1.20. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $319.94.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. The business had revenue of $935.25 million during the quarter, compared to analysts’ expectations of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. Equities analysts predict that Corpay, Inc. will post 17.84 earnings per share 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.