Corpay, Inc. (NYSE:CPAY) Position Increased by Fiduciary Trust Co

Fiduciary Trust Co increased its position in shares of Corpay, Inc. (NYSE:CPAY) by 66.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,449 shares of the company’s stock after acquiring an additional 977 shares during the period. Fiduciary Trust Co’s holdings in Corpay were worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Colonial Trust Co SC raised its holdings in shares of Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock worth $33,000 after acquiring an additional 53 shares in the last quarter. Avion Wealth increased its position in Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Spire Wealth Management acquired a new position in Corpay during the fourth quarter worth $42,000. Assetmark Inc. increased its position in Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after buying an additional 60 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Corpay by 70.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company’s stock worth $45,000 after buying an additional 55 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup assumed coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Morgan Stanley increased their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group lowered their target price on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods increased their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Oppenheimer assumed coverage on shares of Corpay in a research report on Monday, April 28th. They set a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $395.07.

Corpay Stock Up 0.0%

CPAY stock opened at $327.13 on Monday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The company has a market cap of $22.98 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. The business’s 50-day simple moving average is $326.84 and its 200 day simple moving average is $349.94. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last released its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business earned $4.10 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.