Lake Street Advisors Group LLC Acquires Shares of 907 Corpay, Inc. (NYSE:CPAY)

Lake Street Advisors Group LLC bought a new position in Corpay, Inc. (NYSE:CPAY) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 907 shares of the company’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CPAY. Sunbelt Securities Inc. purchased a new stake in Corpay in the 1st quarter valued at about $34,000. Wealth Enhancement Advisory Services LLC purchased a new position in Corpay in the first quarter worth $995,000. Hennion & Walsh Asset Management Inc. bought a new position in Corpay in the 1st quarter valued at $318,000. Aviance Capital Partners LLC purchased a new stake in shares of Corpay during the 1st quarter valued at $5,648,000. Finally, Diversified Trust Co bought a new stake in shares of Corpay during the 1st quarter worth $6,344,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Down 0.9 %

NYSE CPAY opened at $340.72 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $355.47. The stock has a market cap of $23.66 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The stock has a 50 day simple moving average of $318.41 and a two-hundred day simple moving average of $293.73.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter in the previous year, the business posted $3.85 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts forecast that Corpay, Inc. will post 17.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on CPAY shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research report on Thursday, August 8th. Bank of America raised their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group boosted their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $353.33.

Corpay 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.