Hussman Strategic Advisors Inc. Takes $1.39 Million Position in Corpay, Inc. $CPAY

Hussman Strategic Advisors Inc. bought a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the second quarter, HoldingsChannel reports. The firm bought 4,200 shares of the company’s stock, valued at approximately $1,394,000.

A number of other hedge funds have also recently modified their holdings of the business. Machina Capital S.A.S. bought a new stake in shares of Corpay during the 2nd quarter valued at $1,470,000. South Dakota Investment Council raised its position in shares of Corpay by 31.5% in the 2nd quarter. South Dakota Investment Council now owns 2,507 shares of the company’s stock worth $832,000 after purchasing an additional 600 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Corpay by 1.6% in the 2nd quarter. State of Michigan Retirement System now owns 19,184 shares of the company’s stock worth $6,366,000 after purchasing an additional 300 shares during the last quarter. Palogic Value Management L.P. raised its position in shares of Corpay by 9.2% in the 2nd quarter. Palogic Value Management L.P. now owns 665 shares of the company’s stock worth $221,000 after purchasing an additional 56 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of Corpay by 9.6% in the 2nd quarter. GHP Investment Advisors Inc. now owns 10,151 shares of the company’s stock worth $3,368,000 after purchasing an additional 886 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CPAY. Wall Street Zen lowered Corpay from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a research report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price target for the company. Morgan Stanley lowered their price target on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. Williams Trading set a $300.00 price target on Corpay in a research report on Monday. Finally, Keefe, Bruyette & Woods lowered their price target on Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $388.23.

Corpay Price Performance

Shares of NYSE:CPAY opened at $261.65 on Wednesday. Corpay, Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $400.81. The business has a 50-day simple moving average of $295.02 and a two-hundred day simple moving average of $316.28. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping 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 business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm earned $4.55 EPS. Corpay’s revenue was up 12.9% on a year-over-year basis. On average, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.