UniSuper Management Pty Ltd Takes $1.23 Million Position in Corpay, Inc. (NYSE:CPAY)

UniSuper Management Pty Ltd acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,999 shares of the company’s stock, valued at approximately $1,234,000.

Several other hedge funds have also made changes to their positions in the business. Chevy Chase Trust Holdings LLC purchased a new stake in shares of Corpay during the 1st quarter valued at $12,335,000. Empirical Finance LLC acquired a new stake in shares of Corpay in the 1st quarter worth approximately $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Corpay during the first quarter valued at approximately $1,013,000. Agate Pass Investment Management LLC purchased a new stake in shares of Corpay in the 1st quarter valued at approximately $3,937,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Corpay in the 1st quarter valued at approximately $52,600,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Down 0.3 %

CPAY traded down $0.97 during trading on Tuesday, reaching $289.38. 225,252 shares of the company were exchanged, compared to its average volume of 473,617. The company has a 50-day simple moving average of $269.99. Corpay, Inc. has a 12-month low of $220.39 and a 12-month high of $319.94. The stock has a market cap of $20.33 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07.

Corpay (NYSE:CPAY) last posted its quarterly 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. The business had revenue of $935.25 million for the quarter, compared to analyst estimates of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. Equities analysts forecast that Corpay, Inc. will post 17.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CPAY. Citigroup raised their price objective on shares of Corpay from $325.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BMO Capital Markets cut their price objective on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Bank of America boosted their price objective on shares of Corpay from $326.00 to $331.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a report on Friday, June 21st. Finally, Barclays cut their target price 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 given a buy rating to the company. According to data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and a consensus 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.