Catalyst Financial Partners LLC Purchases Shares of 647 Corpay, Inc. (NYSE:CPAY)

Catalyst Financial Partners LLC acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 647 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds have also modified their holdings of the stock. Albion Financial Group UT acquired a new position in Corpay during the 3rd quarter worth $27,000. Headlands Technologies LLC purchased a new position in shares of Corpay in the 1st quarter valued at about $31,000. RFP Financial Group LLC purchased a new stake in shares of Corpay during the first quarter worth approximately $35,000. LGT Financial Advisors LLC acquired a new stake in Corpay in the second quarter valued at approximately $33,000. Finally, Innealta Capital LLC purchased a new position in Corpay in the second quarter worth approximately $36,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CPAY shares. Barclays increased their price target on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, Morgan Stanley boosted their target price on Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $353.46.

Corpay Price Performance

Shares of CPAY opened at $329.72 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm has a market cap of $23.17 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.39 and a beta of 1.22. Corpay, Inc. has a 52 week low of $221.37 and a 52 week high of $355.47. The stock has a 50 day moving average of $321.55 and a 200-day moving average of $294.63.

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