Burney Co. Invests $736,000 in Corpay, Inc. (NYSE:CPAY)

Burney Co. purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,385 shares of the company’s stock, valued at approximately $736,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings LLC bought a new position in Corpay in the 1st quarter worth about $12,335,000. Empirical Finance LLC purchased a new stake in shares of Corpay in the 1st quarter worth $829,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Corpay during the 1st quarter worth $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 bought a new stake in shares of Corpay in the first quarter valued at about $949,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Trading Down 3.5 %

Corpay stock traded down $10.00 during midday trading on Friday, hitting $274.90. 521,993 shares of the stock were exchanged, compared to its average volume of 396,299. 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 market cap of $19.32 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The stock’s 50-day moving average price is $272.04. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $319.94.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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 company had revenue of $935.25 million during the quarter, compared to analysts’ expectations of $936.25 million. Equities analysts anticipate that Corpay, Inc. will post 17.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CPAY has been the topic of several analyst reports. Bank of America lifted their target price on Corpay from $326.00 to $331.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Wells Fargo & Company began coverage on shares of Corpay in a research note on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research report on Friday, June 21st. Barclays lowered their price objective on Corpay from $355.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Finally, JPMorgan Chase & Co. decreased their price target on Corpay from $330.00 to $326.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average 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.