Inspire Advisors LLC Buys 107 Shares of Corpay, Inc. (NYSE:CPAY)

Inspire Advisors LLC raised its stake in shares of Corpay, Inc. (NYSE:CPAY) by 6.0% in the third quarter, Holdings Channel reports. The fund owned 1,876 shares of the company’s stock after acquiring an additional 107 shares during the period. Inspire Advisors LLC’s holdings in Corpay were worth $587,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPAY. Vanguard Group Inc. bought a new position in shares of Corpay during the first quarter valued at $2,431,089,000. JPMorgan Chase & Co. bought a new position in shares of Corpay in the first quarter valued at about $1,429,445,000. Price T Rowe Associates Inc. MD bought a new position in shares of Corpay in the first quarter valued at about $1,355,377,000. Boston Partners bought a new position in shares of Corpay in the first quarter valued at about $553,667,000. Finally, Sustainable Growth Advisers LP bought a new position in shares of Corpay in the first quarter valued at about $553,279,000. 98.84% of the stock is owned by institutional investors.

Corpay Price Performance

Corpay stock opened at $353.51 on Friday. The firm has a market capitalization of $24.84 billion, a P/E ratio of 26.30, a PEG ratio of 1.33 and a beta of 1.22. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $355.47. The business has a 50-day moving average of $312.40 and a 200-day moving average of $292.47. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.85 EPS. On average, equities analysts anticipate that Corpay, Inc. will post 17.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. William Blair upgraded Corpay to a “strong-buy” rating 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 research report on Thursday, October 3rd. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and an average target price of $350.42.

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.