Clearbridge Investments LLC Makes New $1.33 Million Investment in Corpay, Inc. (NYSE:CPAY)

Clearbridge Investments LLC purchased a new position in Corpay, Inc. (NYSE:CPAY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,295 shares of the company’s stock, valued at approximately $1,325,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Corpay in the 1st quarter valued at about $33,840,000. GAMMA Investing LLC purchased a new stake in shares of Corpay during the first quarter worth $149,000. Pensionfund Sabic acquired a new stake in Corpay in the 1st quarter valued at about $1,327,000. Beese Fulmer Investment Management Inc. purchased a new position in Corpay during the first quarter worth approximately $1,398,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in Corpay during the first quarter worth $61,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Down 0.1 %

Corpay stock traded down $0.28 during mid-day trading on Thursday, reaching $285.70. 16,895 shares of the company’s stock were exchanged, compared to its average volume of 469,265. The stock’s fifty day simple moving average is $270.13. The firm has a market capitalization of $20.08 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.11 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 twelve month low of $220.39 and a twelve month high of $319.94.

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

Analysts Set New Price Targets

CPAY has been the topic of several analyst reports. Barclays reduced their price target on Corpay from $355.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Wells Fargo & Company began coverage on shares of Corpay in a research note on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price target for the company. Citigroup upped their price objective on Corpay from $325.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Wolfe Research cut Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 target price for the company. in a research note on Friday, May 17th. Finally, Evercore ISI decreased their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $333.91.

About Corpay

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.