Victory Capital Management Inc. Purchases 10,817 Shares of Corpay, Inc. (NYSE:CPAY)

Victory Capital Management Inc. raised its position in shares of Corpay, Inc. (NYSE:CPAY) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,313 shares of the company’s stock after buying an additional 10,817 shares during the quarter. Victory Capital Management Inc.’s holdings in Corpay were worth $71,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Colonial Trust Co SC grew its position in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock worth $33,000 after purchasing an additional 53 shares during the last quarter. Rakuten Securities Inc. acquired a new position in shares of Corpay during the 1st quarter valued at $45,000. EverSource Wealth Advisors LLC grew its position in Corpay by 70.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company’s stock valued at $45,000 after buying an additional 55 shares during the period. Larson Financial Group LLC increased its holdings in shares of Corpay by 309.5% in the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock worth $60,000 after buying an additional 130 shares during the last quarter. Finally, Continuum Advisory LLC boosted its holdings in Corpay by 29.6% in the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company’s stock valued at $62,000 after acquiring an additional 42 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Corpay Stock Performance

Shares of CPAY opened at $335.56 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $23.65 billion, a PE ratio of 23.53, a PEG ratio of 1.37 and a beta of 0.95. The company’s 50 day moving average price is $332.79 and its 200 day moving average price is $341.79. Corpay, Inc. has a 52 week low of $265.06 and a 52 week high of $400.81.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business earned $4.10 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. Research analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Barclays dropped their price target on Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Raymond James Financial reissued an “outperform” rating and issued a $414.00 price target (down previously from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Robert W. Baird set a $440.00 target price on shares of Corpay in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a research report on Thursday. They set a “buy” rating and a $390.00 target price for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $401.07.

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.