Inspire Advisors LLC bought a new position in Corpay, Inc. (NYSE:CPAY – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,844 shares of the company’s stock, valued at approximately $569,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Donoghue Forlines LLC purchased a new stake in Corpay in the 1st quarter worth approximately $1,747,000. Sei Investments Co. purchased a new stake in Corpay during the 1st quarter valued at approximately $9,712,000. Anchor Capital Advisors LLC purchased a new stake in Corpay during the 1st quarter valued at approximately $14,262,000. Swiss National Bank purchased a new stake in Corpay during the 1st quarter valued at approximately $66,706,000. Finally, Forsta AP Fonden purchased a new stake in Corpay during the 1st quarter valued at approximately $4,165,000. 98.84% of the stock is owned by hedge funds and other institutional investors.
Corpay Stock Up 0.4 %
CPAY traded up $1.28 during trading on Tuesday, reaching $290.91. The company had a trading volume of 105,631 shares, compared to its average volume of 478,374. The company has a market capitalization of $20.44 billion, a PE ratio of 21.54, a P/E/G ratio of 1.10 and a beta of 1.20. The business’s 50 day moving average is $269.81. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CPAY. Wells Fargo & Company began coverage on shares of Corpay in a report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price objective for the company. BMO Capital Markets cut their price objective on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Bank of America increased their target price on Corpay from $326.00 to $331.00 and gave the company a “buy” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. lowered their target price on Corpay from $330.00 to $326.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.36.
Read Our Latest Stock Report on Corpay
About Corpay
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.
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