Custom Index Systems LLC Has $416,000 Position in Corpay, Inc. (NYSE:CPAY)

Custom Index Systems LLC cut its stake in Corpay, Inc. (NYSE:CPAY) by 14.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,329 shares of the company’s stock after selling 233 shares during the quarter. Custom Index Systems LLC’s holdings in Corpay were worth $416,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CPAY. Whittier Trust Co. of Nevada Inc. grew its holdings in Corpay by 22.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock valued at $58,000 after buying an additional 34 shares in the last quarter. Mather Group LLC. boosted its position in shares of Corpay by 21.2% in the third quarter. Mather Group LLC. now owns 200 shares of the company’s stock valued at $63,000 after acquiring an additional 35 shares during the period. Epic Trust Investment Advisors LLC grew its stake in shares of Corpay by 4.1% in the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after acquiring an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in Corpay by 21.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after acquiring an additional 43 shares during the period. Finally, Signaturefd LLC raised its position in shares of Corpay by 22.3% in the third quarter. Signaturefd LLC now owns 252 shares of the company’s stock valued at $79,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Down 0.9 %

Shares of NYSE:CPAY opened at $340.72 on Monday. The business’s 50 day moving average is $318.41 and its 200 day moving average is $293.66. Corpay, Inc. has a 12-month low of $220.39 and a 12-month high of $355.47. The stock has a market cap of $23.66 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.39 and a beta of 1.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.85 EPS. On average, sell-side analysts forecast that Corpay, Inc. will post 17.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Barclays lifted their price target on Corpay from $330.00 to $385.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group raised their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Bank of America upped their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $353.33.

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.