Alta Capital Management LLC Purchases 53 Shares of Corpay, Inc. $CPAY

Alta Capital Management LLC increased its position in Corpay, Inc. (NYSE:CPAY) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 696 shares of the company’s stock after purchasing an additional 53 shares during the quarter. Alta Capital Management LLC’s holdings in Corpay were worth $231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Allianz Asset Management GmbH grew its stake in Corpay by 6.6% in the second quarter. Allianz Asset Management GmbH now owns 607,907 shares of the company’s stock worth $201,716,000 after purchasing an additional 37,789 shares in the last quarter. Equitable Trust Co. grew its stake in Corpay by 36.0% in the second quarter. Equitable Trust Co. now owns 6,330 shares of the company’s stock worth $2,100,000 after purchasing an additional 1,676 shares in the last quarter. Alpine Woods Capital Investors LLC grew its stake in Corpay by 20.1% in the second quarter. Alpine Woods Capital Investors LLC now owns 7,783 shares of the company’s stock worth $2,583,000 after purchasing an additional 1,300 shares in the last quarter. NorthRock Partners LLC grew its stake in Corpay by 18.4% in the second quarter. NorthRock Partners LLC now owns 889 shares of the company’s stock worth $295,000 after purchasing an additional 138 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in Corpay by 13.2% in the second quarter. Verdence Capital Advisors LLC now owns 18,972 shares of the company’s stock worth $6,295,000 after purchasing an additional 2,219 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of CPAY opened at $287.49 on Thursday. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The stock has a fifty day moving average price of $306.14 and a 200-day moving average price of $319.69. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The firm has a market cap of $20.30 billion, a PE ratio of 19.53, a P/E/G ratio of 1.10 and a beta of 0.97.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the business posted $4.55 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on CPAY shares. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 target price on the stock. 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 reaffirmed a “buy (b-)” rating on shares of Corpay in a research report on Wednesday, October 8th. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.