Corpay, Inc. (NYSE:CPAY) Stock Holdings Lifted by IFG Advisory LLC

IFG Advisory LLC increased its position in shares of Corpay, Inc. (NYSE:CPAY) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,956 shares of the company’s stock after acquiring an additional 502 shares during the quarter. IFG Advisory LLC’s holdings in Corpay were worth $4,517,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CPAY. Chevy Chase Trust Holdings LLC purchased a new stake in shares of Corpay in the first quarter valued at $12,335,000. Empirical Finance LLC purchased a new stake in Corpay in the 1st quarter worth about $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Corpay during the 1st quarter worth about $1,013,000. Agate Pass Investment Management LLC purchased a new position in Corpay during the 1st quarter valued at about $3,937,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Corpay in the first quarter worth approximately $949,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 1.5 %

CPAY stock opened at $315.55 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $21.91 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The business has a 50 day simple moving average of $284.84.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.85 earnings per share. On average, research analysts expect that Corpay, Inc. will post 17.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CPAY. Wolfe Research downgraded shares of Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 price objective on the stock. in a research report on Friday, May 17th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company began coverage on shares of Corpay in a research note on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective on the stock. 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 research note on Tuesday, June 25th. Finally, BMO Capital Markets dropped their price objective 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $332.50.

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.