iA Global Asset Management Inc. Makes New $1.88 Million Investment in Corpay, Inc. (NYSE:CPAY)

iA Global Asset Management Inc. acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the 1st quarter, Holdings Channel reports. The firm acquired 6,096 shares of the company’s stock, valued at approximately $1,881,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. acquired a new stake in Corpay in the 1st quarter valued at $2,431,089,000. JPMorgan Chase & Co. acquired a new position in shares of Corpay during the first quarter valued at about $1,429,445,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Corpay during the first quarter worth about $1,355,377,000. Sustainable Growth Advisers LP acquired a new stake in shares of Corpay in the 1st quarter worth about $553,279,000. Finally, Mawer Investment Management Ltd. acquired a new stake in shares of Corpay in the 1st quarter worth about $359,436,000. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Down 3.6 %

Shares of CPAY stock traded down $10.19 during mid-day trading on Friday, reaching $274.71. 267,093 shares of the company’s stock traded hands, compared to its average volume of 465,080. The firm’s 50-day simple moving average is $271.90. The firm has a market cap of $19.30 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.12 and a beta of 1.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The firm had revenue of $935.25 million for the quarter, compared to analysts’ expectations of $936.25 million. Equities analysts predict that Corpay, Inc. will post 17.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of recent research reports. BMO Capital Markets decreased their price objective on Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Bank of America upped their price target on Corpay from $326.00 to $331.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Citigroup raised their price objective on Corpay from $325.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reduced their target price on shares of Corpay from $330.00 to $326.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Barclays dropped their price target 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.91.

Corpay 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.