IFG Advisory LLC increased its position in shares of Corpay, Inc. (NYSE:CPAY – Free Report) 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.
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.
Read Our Latest Analysis 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.
Read More
- Five stocks we like better than Corpay
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Don’t Overlook Campbell Soup: Here’s What Could Drive Its Stock
- What is the Hang Seng index?
- Birkenstock’s Sudden Slide—Why It Might Be Your Next Big Win
- Investing in Travel Stocks Benefits
- MarketBeat Week in Review – 8/26 – 8/30
Want to see what other hedge funds are holding CPAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corpay, Inc. (NYSE:CPAY – Free Report).
Receive News & Ratings for Corpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corpay and related companies with MarketBeat.com's FREE daily email newsletter.