Condor Capital Management Takes Position in Corpay, Inc. (NYSE:CPAY)

Condor Capital Management purchased a new stake in Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,573 shares of the company’s stock, valued at approximately $1,943,000.

Other large investors have also modified their holdings of the company. Colonial Trust Co SC grew its position in shares of Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock valued at $33,000 after purchasing an additional 53 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Corpay in the first quarter valued at approximately $41,000. Rakuten Securities Inc. acquired a new stake in shares of Corpay in the first quarter valued at approximately $45,000. Larson Financial Group LLC grew its position in shares of Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Finally, Continuum Advisory LLC grew its position in shares of 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 purchasing an additional 42 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Trading Down 0.9%

Shares of CPAY opened at $301.73 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $21.27 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.16 and a beta of 0.96. The stock’s fifty day simple moving average is $329.21 and its 200 day simple moving average is $338.59. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81.

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

Analysts Set New Price Targets

Several research firms have recently commented on CPAY. Barclays lowered their price target on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Robert W. Baird set a $440.00 target price on shares of Corpay in a research report on Tuesday, June 10th. Wall Street Zen upgraded shares of Corpay from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Oppenheimer assumed coverage on shares of Corpay in a research report on Monday, April 28th. They set a “market perform” rating on the stock. Finally, Raymond James Financial decreased their target price on shares of Corpay from $414.00 to $392.00 and set an “outperform” rating on the stock in a research report on Thursday. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $397.93.

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.