Amalgamated Bank Has $5.17 Million Stake in Corpay, Inc. $CPAY

Amalgamated Bank lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,565 shares of the company’s stock after purchasing an additional 413 shares during the period. Amalgamated Bank’s holdings in Corpay were worth $5,165,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CVA Family Office LLC lifted its position in shares of Corpay by 56.7% during the second quarter. CVA Family Office LLC now owns 94 shares of the company’s stock worth $31,000 after purchasing an additional 34 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new position in Corpay in the second quarter valued at approximately $33,000. Ameritas Advisory Services LLC acquired a new position in Corpay in the second quarter valued at approximately $37,000. Zions Bancorporation National Association UT acquired a new position in Corpay in the first quarter valued at approximately $41,000. Finally, Larson Financial Group LLC lifted its holdings in 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 buying an additional 130 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Up 2.2%

Shares of NYSE:CPAY opened at $260.58 on Friday. Corpay, Inc. has a 52 week low of $252.84 and a 52 week high of $400.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $18.40 billion, a PE ratio of 17.70, a PEG ratio of 1.02 and a beta of 0.97. The company has a 50 day moving average price of $297.47 and a two-hundred day moving average price of $316.86.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price objective on the stock. Keefe, Bruyette & Woods cut their price objective 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. Morgan Stanley cut their price objective 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. Finally, Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the company an “outperform” rating in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $395.58.

Corpay 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.