Generate Investment Management Ltd Raises Position in Corpay, Inc. (NYSE:CPAY)

Generate Investment Management Ltd increased its holdings in Corpay, Inc. (NYSE:CPAY) by 33.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,156 shares of the company’s stock after purchasing an additional 24,810 shares during the period. Corpay accounts for 2.1% of Generate Investment Management Ltd’s investment portfolio, making the stock its 12th biggest position. Generate Investment Management Ltd owned about 0.14% of Corpay worth $30,699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPAY. Vanguard Group Inc. purchased a new stake in Corpay in the 1st quarter valued at about $2,431,089,000. JPMorgan Chase & Co. purchased a new position in Corpay during the first quarter worth approximately $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Corpay in the 1st quarter valued at $1,355,377,000. Boston Partners purchased a new stake in shares of Corpay during the 1st quarter valued at $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new stake in shares of Corpay during the 1st quarter worth $553,279,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 0.9 %

Shares of Corpay stock opened at $353.51 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $24.84 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.33 and a beta of 1.22. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $355.47. The business’s 50 day simple moving average is $312.40 and its 200-day simple moving average is $292.47.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating the consensus estimate 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 period last year, the firm posted $3.85 EPS. Corpay’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Corpay, Inc. will post 17.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Evercore ISI dropped their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Barclays raised their price target on shares of Corpay from $330.00 to $385.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $350.42.

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.