Intact Investment Management Inc. Acquires New Holdings in Corpay, Inc. (NYSE:CPAY)

Intact Investment Management Inc. acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,200 shares of the company’s stock, valued at approximately $586,000.

Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new position in Corpay in the 2nd quarter worth approximately $3,907,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Corpay by 0.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock worth $2,066,000 after buying an additional 71 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Corpay by 252.2% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,649 shares of the company’s stock worth $2,571,000 after buying an additional 6,909 shares in the last quarter. UMB Bank n.a. purchased a new position in Corpay in the 2nd quarter worth approximately $493,000. Finally, Innealta Capital LLC purchased a new position in Corpay in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE:CPAY traded up $4.53 during midday trading on Friday, reaching $315.55. 649,212 shares of the stock traded hands, compared to its average volume of 463,855. The business has a fifty day moving average of $284.84. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $22.17 billion, a PE ratio of 23.48, a P/E/G ratio of 1.09 and a beta of 1.20.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The business had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same period in the prior year, the business earned $3.85 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts predict that Corpay, Inc. will post 17.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CPAY shares. BMO Capital Markets lowered their price objective on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Wells Fargo & Company started coverage on shares of Corpay in a report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective for the company. Raymond James lowered their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Wolfe Research lowered shares of Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 price objective for the company. in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $332.50.

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.