Corpay, Inc. (NYSE:CPAY) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 2.2% during the third quarter, Holdings Channel.com reports. The fund owned 19,365 shares of the company’s stock after buying an additional 414 shares during the period. Verdence Capital Advisors LLC’s holdings in Corpay were worth $6,057,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CPAY. Whittier Trust Co. of Nevada Inc. grew its holdings in Corpay by 22.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock valued at $58,000 after purchasing an additional 34 shares during the period. Mather Group LLC. raised its stake in shares of Corpay by 21.2% during the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after buying an additional 35 shares during the period. Epic Trust Investment Advisors LLC lifted its position in shares of Corpay by 4.1% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after buying an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after acquiring an additional 43 shares during the period. Finally, Signaturefd LLC increased its holdings in Corpay by 22.3% in the 3rd quarter. Signaturefd LLC now owns 252 shares of the company’s stock worth $79,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CPAY. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. BMO Capital Markets lifted their price objective on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Barclays lifted their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group increased their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $356.79.

Corpay Stock Performance

NYSE:CPAY opened at $365.85 on Friday. The company’s 50-day moving average is $324.92 and its two-hundred day moving average is $296.05. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $25.40 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 1.38 and a beta of 1.21. Corpay, Inc. has a 1-year low of $221.37 and a 1-year high of $375.35.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the business earned $3.85 earnings per share. Analysts forecast that Corpay, Inc. will post 17.96 EPS 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.