Wambolt & Associates LLC Buys New Holdings in Corpay, Inc. (NYSE:CPAY)

Wambolt & Associates LLC purchased a new stake in Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,011 shares of the company’s stock, valued at approximately $309,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in Corpay during the first quarter valued at approximately $25,000. Sunbelt Securities Inc. bought a new stake in Corpay in the first quarter valued at $34,000. Oakworth Capital Inc. acquired a new position in Corpay during the first quarter worth $52,000. Byrne Asset Management LLC bought a new position in shares of Corpay during the first quarter valued at $54,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in shares of Corpay in the 1st quarter valued at $61,000. 98.84% of the stock is owned by institutional investors.

Corpay Trading Up 1.2 %

Shares of NYSE:CPAY traded up $3.09 during trading on Friday, hitting $270.48. 327,437 shares of the company’s stock were exchanged, compared to its average volume of 485,739. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $19.01 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 1.03 and a beta of 1.20. The company’s 50-day moving average is $272.48. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $319.94.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. The firm had revenue of $935.25 million during the quarter, compared to analyst estimates of $936.25 million. Corpay had a net margin of 26.29% and a return on equity of 36.97%. As a group, research analysts predict that Corpay, Inc. will post 17.84 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on CPAY shares. Wells Fargo & Company initiated coverage on shares of Corpay in a report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price target for the company. Citigroup boosted their target price on Corpay from $325.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Bank of America raised their price target on Corpay from $326.00 to $331.00 and gave the company a “buy” rating in a report on Friday, June 21st. Jefferies Financial Group boosted their price objective on Corpay from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Barclays lowered their target price on Corpay from $355.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $335.20.

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.