Suncoast Equity Management Acquires 145 Shares of Corpay, Inc. (NYSE:CPAY)

by · The Markets Daily

Suncoast Equity Management boosted its holdings in Corpay, Inc. (NYSE:CPAY – Free Report) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,053 shares of the company’s stock after purchasing an additional 145 shares during the quarter. Suncoast Equity Management’s holdings in Corpay were worth $1,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPAY. Albion Financial Group UT bought a new position in Corpay in the 3rd quarter worth approximately $27,000. Headlands Technologies LLC purchased a new stake in shares of Corpay during the 1st quarter worth approximately $31,000. LGT Financial Advisors LLC purchased a new stake in shares of Corpay during the 2nd quarter worth approximately $33,000. Sunbelt Securities Inc. purchased a new stake in shares of Corpay during the 1st quarter worth approximately $34,000. Finally, RFP Financial Group LLC purchased a new stake in shares of Corpay during the 1st quarter worth approximately $35,000. 98.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on CPAY shares. Evercore ISI decreased their price objective on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. upped their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Barclays upped their price objective on Corpay from $330.00 to $385.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Three 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $353.33.

Check Out Our Latest Stock Analysis on Corpay

Corpay Trading Down 1.1 %

Corpay stock traded down $3.78 during mid-day trading on Monday, hitting $349.73. The company’s stock had a trading volume of 106,060 shares, compared to its average volume of 462,298. The company has a 50 day moving average of $312.40 and a 200-day moving average of $292.18. The stock has a market cap of $24.58 billion, a PE ratio of 26.30, a P/E/G ratio of 1.33 and a beta of 1.22. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Corpay, Inc. has a one year low of $220.39 and a one year high of $355.47.

Corpay (NYSE:CPAY – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. Corpay’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.85 EPS. On average, research analysts anticipate that Corpay, Inc. will post 17.83 EPS for the current year.

About Corpay

(Free Report)

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.

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