DekaBank Deutsche Girozentrale Purchases Shares of 33,510 Corpay, Inc. (NYSE:CPAY)

DekaBank Deutsche Girozentrale acquired a new position in Corpay, Inc. (NYSE:CPAY) during the first quarter, according to its most recent filing with the SEC. The firm acquired 33,510 shares of the company’s stock, valued at approximately $10,171,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Global Retirement Partners LLC purchased a new position in Corpay during the 1st quarter valued at $25,000. Headlands Technologies LLC purchased a new stake in Corpay in the first quarter worth about $31,000. Sunbelt Securities Inc. purchased a new position in shares of Corpay during the 1st quarter worth approximately $34,000. RFP Financial Group LLC bought a new position in shares of Corpay in the 1st quarter worth approximately $35,000. Finally, Hollencrest Capital Management bought a new position in shares of Corpay in the 1st quarter worth approximately $46,000. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of CPAY stock traded down $10.00 during trading hours on Friday, reaching $274.90. The company had a trading volume of 521,993 shares, compared to its average volume of 396,299. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48. The business has a fifty day moving average of $272.04. Corpay, Inc. has a one year low of $220.39 and a one year high of $319.94. The firm has a market capitalization of $19.32 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.09 and a beta of 1.20.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CPAY. BMO Capital Markets reduced their price target on Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. lowered their price target on shares of Corpay from $330.00 to $326.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Wolfe Research cut shares of Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 price objective on the stock. in a report on Friday, May 17th. Barclays decreased their target price on shares of Corpay from $355.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. Finally, Evercore ISI dropped their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $333.91.

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.