Corpay, Inc. (NYSE:CPAY) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in Corpay, Inc. (NYSE:CPAY) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,320 shares of the company’s stock after acquiring an additional 54 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Corpay were worth $352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Chevy Chase Trust Holdings LLC purchased a new stake in shares of Corpay during the 1st quarter valued at about $12,335,000. Empirical Finance LLC purchased a new stake in shares of Corpay during the 1st quarter valued at about $829,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Corpay during the 1st quarter valued at about $1,013,000. Agate Pass Investment Management LLC purchased a new stake in shares of Corpay during the 1st quarter valued at about $3,937,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Corpay during the 1st quarter valued at about $949,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CPAY has been the topic of several analyst reports. Wolfe Research downgraded Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 target price on the stock. in a report on Friday, May 17th. William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Barclays dropped their price objective on Corpay from $355.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Bank of America dropped their price objective on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Corpay from $326.00 to $327.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $330.33.

Corpay Trading Up 1.7 %

Shares of NYSE CPAY opened at $292.80 on Friday. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $319.94. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. The company has a market cap of $20.57 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The firm has a 50 day moving average price of $275.15.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The business had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same period in the previous year, the business earned $3.85 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Corpay, Inc. will post 17.82 earnings per share for the current year.

Corpay Company Profile

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.