GHP Investment Advisors Inc. Purchases 585 Shares of Corpay, Inc. (NYSE:CPAY)

GHP Investment Advisors Inc. grew its position in shares of Corpay, Inc. (NYSE:CPAY) by 9.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,643 shares of the company’s stock after acquiring an additional 585 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Corpay were worth $2,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPAY. Albion Financial Group UT bought a new position in shares of Corpay during the 3rd quarter valued at $27,000. Headlands Technologies LLC purchased a new position in shares of Corpay in the first quarter worth about $31,000. Sunbelt Securities Inc. bought a new stake in shares of Corpay in the 1st quarter valued at about $34,000. RFP Financial Group LLC purchased a new stake in Corpay during the 1st quarter valued at about $35,000. Finally, LGT Financial Advisors LLC purchased a new stake in Corpay during the 2nd quarter valued at about $33,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Price Performance

Shares of CPAY stock opened at $340.72 on Friday. The business’s fifty day moving average is $318.41 and its 200 day moving average is $293.73. 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 $23.66 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.39 and a beta of 1.22. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $355.47.

Corpay (NYSE:CPAY) last issued its quarterly 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. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same period last year, the business earned $3.85 EPS. Corpay’s quarterly revenue was up 2.9% compared to the same quarter last year. Research analysts expect that Corpay, Inc. will post 17.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CPAY has been the subject of several recent research reports. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Raymond James cut their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $353.33.

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.