Plato Investment Management Ltd Acquires New Position in Corpay, Inc. (NYSE:CPAY)

Plato Investment Management Ltd acquired a new stake in Corpay, Inc. (NYSE:CPAY) during the first quarter, Holdings Channel.com reports. The fund acquired 629 shares of the company’s stock, valued at approximately $194,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in Corpay in the first quarter valued at $2,431,089,000. JPMorgan Chase & Co. acquired a new position in shares of Corpay during the first quarter valued at about $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Corpay during the first quarter valued at about $1,355,377,000. Sustainable Growth Advisers LP acquired a new position in shares of Corpay during the first quarter valued at about $553,279,000. Finally, Mawer Investment Management Ltd. acquired a new position in shares of Corpay during the first quarter valued at about $359,436,000. 98.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CPAY shares. Evercore ISI dropped their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Robert W. Baird boosted their target price on shares of Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. BMO Capital Markets decreased their target price on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Jefferies Financial Group boosted their target price on shares of Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company started coverage on shares of Corpay in a research report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $333.91.

Corpay Stock Down 2.4 %

NYSE:CPAY traded down $6.92 on Thursday, reaching $284.90. 502,866 shares of the company’s stock traded hands, compared to its average volume of 466,427. 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 stock’s 50-day moving average is $271.60. The stock has a market capitalization of $20.02 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.14 and a beta of 1.20. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share for the quarter, beating 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 return on equity of 36.97% and a net margin of 26.29%. On average, equities analysts anticipate that Corpay, Inc. will post 17.82 earnings per share for the current year.

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.