5,483 Shares in Corpay, Inc. (NYSE:CPAY) Bought by Kentucky Retirement Systems

Kentucky Retirement Systems bought a new position in shares of Corpay, Inc. (NYSE:CPAY) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 5,483 shares of the company’s stock, valued at approximately $1,692,000.

Other large investors have also bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in Corpay during the 1st quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in Corpay during the 1st quarter worth about $31,000. Sunbelt Securities Inc. acquired a new stake in Corpay during the 1st quarter worth about $34,000. RFP Financial Group LLC acquired a new stake in Corpay during the 1st quarter worth about $35,000. Finally, Hollencrest Capital Management acquired a new stake in Corpay during the 1st quarter worth about $46,000. 98.84% of the stock is owned by institutional investors.

Corpay Stock Up 2.3 %

CPAY stock traded up $6.61 during mid-day trading on Friday, reaching $292.17. 316,894 shares of the company traded hands, compared to its average volume of 424,549. The firm has a market cap of $20.53 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The company has a 50 day simple moving average of $270.44.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. The business had revenue of $935.25 million during the quarter, compared to the consensus estimate of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. On average, analysts anticipate that Corpay, Inc. will post 17.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CPAY has been the subject of several research reports. Wells Fargo & Company initiated coverage on Corpay in a research note on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 target price for the company. BMO Capital Markets reduced their target price on Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Jefferies Financial Group raised their target price on Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. reduced their target price on Corpay from $330.00 to $326.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Citigroup raised their target price on Corpay from $325.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $333.91.

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.