Violich Capital Management Inc. Has $2.28 Million Position in Corpay, Inc. (NYSE:CPAY)

Violich Capital Management Inc. grew its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 52.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,300 shares of the company's stock after buying an additional 2,500 shares during the quarter. Violich Capital Management Inc.'s holdings in Corpay were worth $2,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in CPAY. Albion Financial Group UT bought a new position in shares of Corpay in the 3rd quarter valued at approximately $27,000. Headlands Technologies LLC bought a new position in shares of Corpay in the 1st quarter valued at approximately $31,000. LGT Financial Advisors LLC bought a new position in Corpay in the 2nd quarter worth approximately $33,000. Sunbelt Securities Inc. bought a new position in Corpay in the 1st quarter worth approximately $34,000. Finally, RFP Financial Group LLC bought a new position in Corpay in the 1st quarter worth approximately $35,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Price Performance

CPAY stock traded down $4.56 during trading on Monday, hitting $348.95. The company had a trading volume of 374,750 shares, compared to its average volume of 463,617. The company has a fifty day moving average price of $312.40 and a two-hundred day moving average price of $292.18. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The company has a market cap of $24.52 billion, a P/E ratio of 26.30, a P/E/G ratio of 1.33 and a beta of 1.22. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $355.47.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. Corpay's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.85 EPS. Equities research analysts expect that Corpay, Inc. will post 17.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CPAY. Evercore ISI dropped their price target on Corpay from $350.00 to $345.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 25th. Wells Fargo & Company lifted their price target on Corpay from $285.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Monday. Jefferies Financial Group lifted their price target on Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Barclays lifted their price target on Corpay from $330.00 to $385.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price target on Corpay from $327.00 to $353.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Corpay has an average 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.