Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,383 shares of the company’s stock, valued at approximately $735,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPAY. Chevy Chase Trust Holdings LLC bought a new position in shares of Corpay in the first quarter valued at approximately $12,335,000. Empirical Finance LLC bought a new position in shares of Corpay in the first quarter valued at approximately $829,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Corpay in the first quarter valued at approximately $1,013,000. Agate Pass Investment Management LLC bought a new position in shares of Corpay in the first quarter valued at approximately $3,937,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Corpay in the first quarter valued at approximately $949,000. Institutional investors own 98.84% of the company’s stock.
Corpay Stock Up 2.3 %
CPAY traded up $6.61 during trading on Friday, reaching $292.17. 316,894 shares of the company’s stock were exchanged, compared to its average volume of 424,549. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50 day moving average of $270.44. The company has a market cap of $20.53 billion, a P/E ratio of 21.74, a P/E/G ratio of 1.12 and a beta of 1.20.
Analysts Set New Price Targets
A number of brokerages recently issued reports on CPAY. Barclays dropped their target price on shares of Corpay from $355.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. JPMorgan Chase & Co. dropped their target price on shares of Corpay from $330.00 to $326.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Friday, June 21st. Evercore ISI dropped their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, BMO Capital Markets dropped their target price on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus price target of $333.91.
View Our Latest Stock Report on Corpay
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.
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