Janney Montgomery Scott LLC Raises Holdings in Corpay, Inc. $CPAY

Janney Montgomery Scott LLC lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 29.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,758 shares of the company’s stock after purchasing an additional 845 shares during the period. Janney Montgomery Scott LLC’s holdings in Corpay were worth $1,247,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Meeder Advisory Services Inc. grew its stake in Corpay by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 678 shares of the company’s stock worth $236,000 after acquiring an additional 32 shares during the period. Townsquare Capital LLC grew its stake in Corpay by 0.7% in the 1st quarter. Townsquare Capital LLC now owns 4,520 shares of the company’s stock worth $1,576,000 after acquiring an additional 32 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Corpay by 0.3% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,666 shares of the company’s stock worth $4,417,000 after acquiring an additional 35 shares during the period. Fifth Third Bancorp grew its stake in Corpay by 1.6% in the 1st quarter. Fifth Third Bancorp now owns 2,691 shares of the company’s stock worth $938,000 after acquiring an additional 43 shares during the period. Finally, Signaturefd LLC grew its stake in Corpay by 16.7% in the 1st quarter. Signaturefd LLC now owns 300 shares of the company’s stock worth $105,000 after acquiring an additional 43 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CPAY shares. UBS Group decreased their price target on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Wall Street Zen lowered shares of Corpay from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley decreased their price target on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price target on the stock. Finally, Raymond James Financial set a $392.00 price target on shares of Corpay and gave the company an “outperform” rating in a report on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.21.

Corpay Trading Down 3.6%

Shares of CPAY opened at $280.37 on Monday. The stock’s 50-day moving average is $308.11 and its two-hundred day moving average is $320.57. The stock has a market cap of $19.80 billion, a PE ratio of 19.05, a P/E/G ratio of 1.06 and a beta of 0.97. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.55 earnings per share. Equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.