Hennion & Walsh Asset Management Inc. Grows Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Hennion & Walsh Asset Management Inc. raised its position in shares of Corpay, Inc. (NYSE:CPAY) by 27.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,204 shares of the company’s stock after purchasing an additional 259 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Corpay were worth $377,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in shares of Corpay in the first quarter worth about $2,431,089,000. JPMorgan Chase & Co. purchased a new position in shares of Corpay in the first quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Corpay in the first quarter worth about $1,355,377,000. Boston Partners purchased a new position in shares of Corpay in the first quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP purchased a new position in shares of Corpay in the first quarter worth about $553,279,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Corpay stock opened at $332.02 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50 day simple moving average is $320.15 and its two-hundred day simple moving average is $294.12. 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 $23.33 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.39 and a beta of 1.22.

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

Analyst Ratings Changes

CPAY has been the topic of several recent analyst reports. Morgan Stanley raised their target price on Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company raised their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. BMO Capital Markets raised their target price on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group raised their target price on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $353.46.

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.