Montag & Caldwell LLC Takes Position in Corpay, Inc. (NYSE:CPAY)

Montag & Caldwell LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,719 shares of the company’s stock, valued at approximately $724,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Corpay during the first quarter valued at $31,000. LGT Financial Advisors LLC purchased a new stake in Corpay during the second quarter valued at $33,000. Sunbelt Securities Inc. purchased a new stake in Corpay during the first quarter valued at $34,000. RFP Financial Group LLC purchased a new stake in Corpay during the first quarter valued at $35,000. Finally, Blue Trust Inc. increased its position in Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares during the last quarter. 98.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. William Blair upgraded Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group upped their price target on Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Wells Fargo & Company began coverage on Corpay in a research report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $332.50.

Corpay Trading Up 0.5 %

Shares of NYSE:CPAY opened at $307.43 on Monday. The company has a market cap of $21.34 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm has a 50-day simple moving average of $292.85.

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 return on equity of 38.93% and a net margin of 26.41%. The company had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same quarter in the prior year, the firm posted $3.85 EPS. Corpay’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts forecast that Corpay, Inc. will post 17.81 EPS 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.