William Allan Corp Acquires 940 Shares of Corpay, Inc. $CPAY

by · The Cerbat Gem

William Allan Corp grew its holdings in Corpay, Inc. (NYSE:CPAY – Free Report) by 15.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,174 shares of the company’s stock after buying an additional 940 shares during the quarter. William Allan Corp’s holdings in Corpay were worth $2,380,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CPAY. Select Equity Group L.P. raised its holdings in shares of Corpay by 1,302.3% in the 1st quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company’s stock valued at $425,054,000 after purchasing an additional 1,131,975 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Corpay by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after purchasing an additional 472,147 shares in the last quarter. Nuveen LLC bought a new stake in shares of Corpay in the 1st quarter valued at about $104,428,000. Wellington Management Group LLP raised its holdings in shares of Corpay by 30.7% in the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock valued at $444,639,000 after purchasing an additional 299,452 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Corpay by 12.3% in the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock valued at $660,731,000 after purchasing an additional 208,067 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. UBS Group reduced their price target on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Morgan Stanley reduced their price objective on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corpay in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Corpay from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $395.58.

Read Our Latest Analysis on Corpay

Corpay Stock Up 0.0%

NYSE:CPAY opened at $284.52 on Tuesday. The company has a market cap of $20.09 billion, a PE ratio of 19.33, a P/E/G ratio of 1.08 and a beta of 0.97. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. 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 company’s 50 day moving average is $301.79 and its two-hundred day moving average is $317.96.

Corpay (NYSE:CPAY – Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. Corpay’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.55 EPS. Analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current year.

Corpay Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CPAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corpay, Inc. (NYSE:CPAY – Free Report).