Sequoia Financial Advisors LLC Raises Holdings in Corpay, Inc. $CPAY

Sequoia Financial Advisors LLC lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 77.2% during the second quarter, Holdings Channel.com reports. The fund owned 2,153 shares of the company’s stock after acquiring an additional 938 shares during the period. Sequoia Financial Advisors LLC’s holdings in Corpay were worth $714,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CPAY. GAMMA Investing LLC grew its stake in shares of Corpay by 9.9% during the first quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock worth $560,000 after acquiring an additional 145 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Corpay by 9.2% in the first quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company’s stock valued at $1,016,000 after buying an additional 246 shares during the last quarter. GAM Holding AG boosted its position in Corpay by 31.4% in the first quarter. GAM Holding AG now owns 5,490 shares of the company’s stock valued at $1,914,000 after buying an additional 1,313 shares during the last quarter. Suncoast Equity Management boosted its position in Corpay by 15.4% in the first quarter. Suncoast Equity Management now owns 5,173 shares of the company’s stock valued at $1,804,000 after buying an additional 690 shares during the last quarter. Finally, Heartland Bank & Trust Co purchased a new stake in Corpay in the first quarter valued at approximately $353,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 3.0%

Shares of NYSE:CPAY opened at $285.90 on Friday. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81. The company has a market capitalization of $20.19 billion, a PE ratio of 19.42, a PEG ratio of 1.08 and a beta of 0.97. The business has a 50 day moving average of $305.28 and a two-hundred day moving average of $318.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company posted $4.55 earnings per share. Corpay’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on CPAY shares. Keefe, Bruyette & Woods dropped their target price on Corpay from $445.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Morgan Stanley dropped their target price on Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corpay in a research report on Wednesday, October 8th. UBS Group dropped their target price on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Corpay in a research report on Thursday, July 17th. They issued a “buy” rating and a $390.00 target price on the stock. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $395.58.

Corpay Company 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.