Generate Investment Management Ltd Purchases 24,810 Shares of Corpay, Inc. (NYSE:CPAY)

Generate Investment Management Ltd increased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 33.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,156 shares of the company's stock after acquiring an additional 24,810 shares during the quarter. Corpay accounts for about 2.1% of Generate Investment Management Ltd's holdings, making the stock its 12th largest position. Generate Investment Management Ltd owned approximately 0.14% of Corpay worth $30,699,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CPAY. Chevy Chase Trust Holdings LLC acquired a new position in shares of Corpay in the 1st quarter valued at about $12,335,000. Empirical Finance LLC acquired a new stake in shares of Corpay during the 1st quarter valued at $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Corpay during the 1st quarter valued at $1,013,000. Agate Pass Investment Management LLC purchased a new position in shares of Corpay during the 1st quarter valued at $3,937,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Corpay in the first quarter worth $949,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

NYSE:CPAY traded up $3.10 during mid-day trading on Friday, hitting $353.51. 433,688 shares of the company's stock traded hands, compared to its average volume of 464,062. The firm has a market capitalization of $24.84 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The firm has a 50 day moving average of $312.40 and a two-hundred day moving average of $292.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $355.47.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on CPAY. Bank of America boosted their target price on Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays raised their price objective on shares of Corpay from $330.00 to $385.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Evercore ISI reduced their target price on shares of Corpay from $350.00 to $345.00 and set an "outperform" rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada restated a "sector perform" rating and set a $310.00 price target on shares of Corpay in a research note on Thursday, August 8th. Finally, Wolfe Research raised shares of Corpay from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $350.42.

Corpay Company 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.