Gibraltar Capital Management Inc. Increases Stock Position in Corpay, Inc. (NYSE:CPAY)

Gibraltar Capital Management Inc. lifted its position in shares of Corpay, Inc. (NYSE:CPAY) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,631 shares of the company’s stock after purchasing an additional 86 shares during the period. Corpay accounts for about 2.8% of Gibraltar Capital Management Inc.’s holdings, making the stock its 21st biggest position. Gibraltar Capital Management Inc.’s holdings in Corpay were worth $6,140,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. abrdn plc lifted its holdings in Corpay by 49.0% during the third quarter. abrdn plc now owns 22,843 shares of the company’s stock worth $7,117,000 after acquiring an additional 7,507 shares during the period. Nisa Investment Advisors LLC increased its position in Corpay by 7.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,355 shares of the company’s stock worth $737,000 after buying an additional 160 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Corpay by 1.4% in the third quarter. State of Alaska Department of Revenue now owns 30,322 shares of the company’s stock valued at $9,483,000 after buying an additional 420 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Corpay by 44.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 33,457 shares of the company’s stock worth $10,351,000 after acquiring an additional 10,219 shares during the period. Finally, GHP Investment Advisors Inc. increased its holdings in Corpay by 9.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 6,643 shares of the company’s stock worth $2,078,000 after acquiring an additional 585 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPAY has been the subject of a number of recent analyst reports. Bank of America boosted their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Barclays lifted their price target on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group upped their price objective on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Raymond James dropped their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Four 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $353.46.

Corpay Price Performance

Shares of NYSE:CPAY opened at $338.92 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market cap of $23.82 billion, a PE ratio of 25.22, a PEG ratio of 1.39 and a beta of 1.22. The company’s fifty day moving average is $319.30 and its 200 day moving average is $293.90. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $355.47.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.51 by $0.04. The firm 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%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.85 earnings per share. Research analysts anticipate that Corpay, Inc. will post 17.83 earnings per share for the current year.

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.