Central Pacific Bank Trust Division Takes Position in Corpay, Inc. (NYSE:CPAY)

Central Pacific Bank Trust Division acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) in the 1st quarter, HoldingsChannel reports. The firm acquired 1,953 shares of the company’s stock, valued at approximately $597,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Corpay in the 1st quarter valued at approximately $33,840,000. GAMMA Investing LLC purchased a new position in Corpay in the first quarter worth approximately $149,000. Pensionfund Sabic acquired a new stake in Corpay during the first quarter worth $1,327,000. Beese Fulmer Investment Management Inc. purchased a new stake in Corpay in the first quarter valued at $1,398,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in shares of Corpay in the 1st quarter valued at $61,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Down 0.8 %

CPAY stock traded down $2.09 during midday trading on Wednesday, hitting $267.38. The company’s stock had a trading volume of 19,161 shares, compared to its average volume of 475,671. The firm has a 50-day moving average of $271.16. The company has a market cap of $18.79 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.04 and a beta of 1.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 52-week low of $220.39 and a 52-week high of $319.94.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The business had revenue of $935.25 million for the quarter, compared to analysts’ expectations of $936.25 million. On average, sell-side analysts expect that Corpay, Inc. will post 17.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on CPAY shares. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research report on Friday, June 21st. Bank of America lifted their price target on shares of Corpay from $326.00 to $331.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Jefferies Financial Group upped their price objective on shares of Corpay from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Robert W. Baird lifted their target price on shares of Corpay from $355.00 to $376.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, BMO Capital Markets cut their target price on Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus target price of $335.20.

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.