Fintel reports that on September 3, 2024, Wolfe Research upgraded their outlook for Corpay (NYSE:CPAY) from Underperform to Peer Perform.
Analyst Price Forecast Suggests 3.81% Upside
As of August 25, 2024, the average one-year price target for Corpay is $326.33/share. The forecasts range from a low of $267.65 to a high of $394.80. The average price target represents an increase of 3.81% from its latest reported closing price of $314.37 / share.
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The projected annual revenue for Corpay is 4,162MM, an increase of 8.98%. The projected annual non-GAAP EPS is 19.78.
What is the Fund Sentiment?
There are 1,297 funds or institutions reporting positions in Corpay. This is an increase of 363 owner(s) or 38.87% in the last quarter. Average portfolio weight of all funds dedicated to CPAY is 0.28%, an increase of 15.40%. Total shares owned by institutions increased in the last three months by 3.85% to 74,393K shares. 
The put/call ratio of CPAY is 0.83, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 5,160K shares representing 7.43% ownership of the company. In its prior filing, the firm reported owning 4,633K shares , representing an increase of 10.21%. The firm decreased its portfolio allocation in CPAY by 6.61% over the last quarter.
Orbis Allan Gray holds 4,251K shares representing 6.12% ownership of the company. In its prior filing, the firm reported owning 4,537K shares , representing a decrease of 6.71%. The firm decreased its portfolio allocation in CPAY by 37.83% over the last quarter.
Price T Rowe Associates holds 3,922K shares representing 5.65% ownership of the company. In its prior filing, the firm reported owning 4,393K shares , representing a decrease of 12.01%. The firm decreased its portfolio allocation in CPAY by 24.74% over the last quarter.
Wellington Management Group Llp holds 3,179K shares representing 4.58% ownership of the company. In its prior filing, the firm reported owning 4,348K shares , representing a decrease of 36.75%. The firm decreased its portfolio allocation in CPAY by 91.03% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,113K shares representing 3.04% ownership of the company. In its prior filing, the firm reported owning 2,163K shares , representing a decrease of 2.38%. The firm decreased its portfolio allocation in CPAY by 17.98% over the last quarter.
Corpay Background Information
(This description is provided by the company.)
fleetcor is a leading global provider of fuel cards and specialized payment products to businesses. fleetcor's payment programs enable businesses to better control employee spending and provide card-accepting merchants with a high volume customer base that can increase their sales and customer loyalty. fleetcor serves over 500,000 commercial accounts with millions of cardholders across the united states, canada, mexico, europe, africa and asia. for more information, please visit www.fleetcor.com. we have developed an extremely successful company based on our core principles; determination, drive, outstanding value, industry leading products, and quality people. as a result fleetcor has grown more than 40% over the last 10 years and is the world's largest provider of commercial fleet card programs. through our organic growth initiatives, strategic acquisitions, and solid business acumen, that growth will continue. to maintain our top position in the industry, it is vital to continual
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