Montag & Caldwell LLC Makes New $724,000 Investment in Corpay, Inc. (NYSE:CPAY)

Montag & Caldwell LLC bought a new position in Corpay, Inc. (NYSE:CPAY) during the second quarter, HoldingsChannel.com reports. The fund bought 2,719 shares of the company’s stock, valued at approximately $724,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chevy Chase Trust Holdings LLC purchased a new stake in Corpay in the first quarter worth $12,335,000. Empirical Finance LLC purchased a new position in shares of Corpay during the first quarter valued at $829,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Corpay during the first quarter valued at $1,013,000. Agate Pass Investment Management LLC purchased a new position in shares of Corpay during the first quarter valued at $3,937,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Corpay during the first quarter valued at $949,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPAY. Raymond James cut their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. Bank of America cut their target price on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI cut their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Three 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $332.50.

Corpay Stock Up 0.5 %

Shares of NYSE CPAY opened at $307.43 on Monday. The firm has a 50 day moving average price of $292.85. The stock has a market capitalization of $21.34 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 1.22 and a beta of 1.22. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94. 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 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. The firm had revenue of $975.70 million for 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%. Corpay’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.85 earnings per share. As a group, research analysts expect that Corpay, Inc. will post 17.81 earnings per share for the current year.

Corpay Company 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.