Suncoast Equity Management Grows Stock Holdings in Corpay, Inc. $CPAY

Suncoast Equity Management grew its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,415 shares of the company’s stock after buying an additional 242 shares during the quarter. Suncoast Equity Management’s holdings in Corpay were worth $1,797,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC boosted its stake in shares of Corpay by 6.2% in the first quarter. Cerity Partners LLC now owns 33,385 shares of the company’s stock valued at $11,642,000 after purchasing an additional 1,942 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Corpay by 54.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,590 shares of the company’s stock valued at $3,693,000 after acquiring an additional 3,739 shares in the last quarter. Nordea Investment Management AB raised its holdings in Corpay by 50.1% in the second quarter. Nordea Investment Management AB now owns 20,297 shares of the company’s stock valued at $6,670,000 after acquiring an additional 6,775 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in Corpay in the second quarter valued at $2,518,000. Finally, Czech National Bank raised its holdings in Corpay by 7.6% in the second quarter. Czech National Bank now owns 17,230 shares of the company’s stock valued at $5,717,000 after acquiring an additional 1,219 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Up 0.2%

Shares of NYSE:CPAY opened at $261.73 on Thursday. The stock has a market capitalization 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, Inc. has a 1-year low of $252.84 and a 1-year high of $400.81. The company’s fifty day moving average is $293.74 and its two-hundred day moving average is $315.90. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12.

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 net margin of 25.17% and a return on equity of 39.13%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $4.55 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. Equities analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analyst Weigh In

CPAY has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Corpay in a report on Monday. Keefe, Bruyette & Woods cut their price target on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Wall Street Zen cut shares of Corpay from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. UBS Group cut their price target on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Finally, Morgan Stanley cut their price target on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and an average target price of $388.23.

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.