Public Employees Retirement Association of Colorado Purchases New Holdings in Corpay, Inc. (NYSE:CPAY)

Public Employees Retirement Association of Colorado bought a new stake in shares of 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 bought 7,685 shares of the company’s stock, valued at approximately $2,371,000.

Several other large investors have also recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in Corpay during the 1st quarter valued at approximately $33,840,000. GAMMA Investing LLC purchased a new position in shares of Corpay in the 1st quarter worth about $149,000. Pensionfund Sabic bought a new position in Corpay in the 1st quarter worth about $1,327,000. Beese Fulmer Investment Management Inc. purchased a new stake in Corpay during the 1st quarter valued at about $1,398,000. Finally, Massmutual Trust Co. FSB ADV bought a new stake in Corpay during the 1st quarter valued at about $61,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Up 0.5 %

CPAY stock opened at $293.59 on Tuesday. The company’s 50-day moving average is $270.73. The stock has a market cap of $20.63 billion, a PE ratio of 21.84, a P/E/G 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 twelve month low of $220.39 and a twelve month high of $319.94.

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

Analysts Set New Price Targets

A number of research firms have recently commented on CPAY. JPMorgan Chase & Co. cut their price target on shares of Corpay from $330.00 to $326.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Robert W. Baird lifted their target price on Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Friday, June 21st. Wolfe Research downgraded Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 price objective for the company. in a report on Friday, May 17th. Finally, Jefferies Financial Group lifted their price target on shares of Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One 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 company’s stock. Based on data from MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and an average target price 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.