EP Wealth Advisors LLC Buys New Position in Corpay, Inc. (NYSE:CPAY)

EP Wealth Advisors LLC bought a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,075 shares of the company’s stock, valued at approximately $949,000.

Other large investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Corpay during the first quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new position in Corpay during the first quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new position in shares of Corpay in the first quarter worth $34,000. RFP Financial Group LLC purchased a new position in shares of Corpay in the first quarter worth $35,000. Finally, Hollencrest Capital Management purchased a new position in shares of Corpay in the first quarter worth $46,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Trading Up 2.3 %

Shares of NYSE CPAY traded up $6.61 during mid-day trading on Friday, reaching $292.17. The company had a trading volume of 316,001 shares, compared to its average volume of 470,555. The stock’s 50-day moving average price is $270.19. 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 firm has a market cap of $20.53 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 1.10 and a beta of 1.20. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The company had revenue of $935.25 million during the quarter, compared to analyst estimates of $936.25 million. As a group, equities research analysts forecast that Corpay, Inc. will post 17.82 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of Corpay from $325.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. 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 report on Thursday, April 4th. JPMorgan Chase & Co. lowered their target price on shares of Corpay from $330.00 to $326.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Barclays decreased their price target on shares of Corpay from $355.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. Finally, BMO Capital Markets decreased their price target on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $333.91.

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.