Custom Index Systems LLC Purchases 354 Shares of Corpay, Inc. (NYSE:CPAY)

Custom Index Systems LLC lifted its position in Corpay, Inc. (NYSE:CPAY) by 29.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,562 shares of the company’s stock after acquiring an additional 354 shares during the quarter. Custom Index Systems LLC’s holdings in Corpay were worth $416,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Corpay in the 1st quarter worth about $25,000. Headlands Technologies LLC purchased a new position in Corpay in the 1st quarter worth about $31,000. Sunbelt Securities Inc. purchased a new position in Corpay in the 1st quarter worth about $34,000. RFP Financial Group LLC purchased a new position in Corpay in the 1st quarter worth about $35,000. Finally, LGT Financial Advisors LLC purchased a new position in Corpay in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

CPAY has been the topic of several recent analyst reports. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. 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. Jefferies Financial Group raised their target price on shares of Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.50.

Corpay Stock Down 0.6 %

Shares of Corpay stock opened at $302.97 on Friday. The stock has a 50 day moving average price of $288.91. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Corpay, Inc. has a 52-week low of $220.39 and a 52-week high of $319.94. The stock has a market cap of $21.29 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.26 and a beta of 1.22.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same quarter in the previous year, the firm earned $3.85 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Corpay, Inc. will post 17.81 EPS for the current fiscal 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.