Alta Capital Management LLC Raises Stock Holdings in Corpay, Inc. $CPAY

Alta Capital Management LLC increased its position in Corpay, Inc. (NYSE:CPAY) by 8.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 696 shares of the company’s stock after acquiring an additional 53 shares during the period. Alta Capital Management LLC’s holdings in Corpay were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in Corpay by 6.2% in the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company’s stock worth $11,642,000 after acquiring an additional 1,942 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Corpay by 54.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,590 shares of the company’s stock worth $3,693,000 after acquiring an additional 3,739 shares during the last quarter. Peak Financial Advisors LLC purchased a new position in Corpay in the 2nd quarter worth $2,518,000. Czech National Bank raised its stake in Corpay by 7.6% in the 2nd quarter. Czech National Bank now owns 17,230 shares of the company’s stock worth $5,717,000 after acquiring an additional 1,219 shares during the last quarter. Finally, Capital Impact Advisors LLC purchased a new position in Corpay in the 1st quarter worth $8,177,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of Corpay stock opened at $287.49 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The business has a 50-day moving average price of $306.14 and a 200 day moving average price of $319.69. The firm has a market cap of $20.30 billion, a PE ratio of 19.53, a P/E/G ratio of 1.10 and a beta of 0.97.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the business earned $4.55 EPS. Corpay’s revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CPAY shares. Keefe, Bruyette & Woods reduced their price objective on Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Raymond James Financial set a $392.00 price objective on Corpay and gave the company an “outperform” rating in a research note on Thursday, August 7th. Wall Street Zen lowered Corpay from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Morgan Stanley reduced their price objective on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Corpay in a research note on Wednesday, October 8th. Eight 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $395.58.

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.