Lecap Asset Management Ltd. Makes New $2.70 Million Investment in Corpay, Inc. (NYSE:CPAY)

Lecap Asset Management Ltd. acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 8,631 shares of the company's stock, valued at approximately $2,699,000.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in shares of Corpay during the first quarter worth about $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in Corpay during the 1st quarter worth approximately $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new position in Corpay during the 1st quarter valued at approximately $1,355,377,000. Boston Partners purchased a new position in shares of Corpay in the first quarter worth $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new stake in shares of Corpay during the first quarter worth $553,279,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Performance

CPAY opened at $348.97 on Wednesday. The stock has a market cap of $24.52 billion, a P/E ratio of 25.97, a P/E/G ratio of 1.33 and a beta of 1.22. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a fifty day moving average price of $315.11 and a 200 day moving average price of $292.79. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $355.47.

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

Analyst Ratings Changes

CPAY has been the subject of a number of research analyst reports. Barclays raised their target price on Corpay from $330.00 to $385.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Royal Bank of Canada restated a "sector perform" rating and issued a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Raymond James dropped their target price on Corpay from $330.00 to $311.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Evercore ISI reduced their price target on shares of Corpay from $350.00 to $345.00 and set an "outperform" rating for the company in a research report on Tuesday, June 25th. Finally, Wolfe Research raised shares of Corpay from an "underperform" rating to a "peer perform" rating in a report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.

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