APG Asset Management N.V. Acquires 9,579 Shares of Corpay, Inc. $CPAY

APG Asset Management N.V. raised its holdings in Corpay, Inc. (NYSE:CPAY) by 25.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,779 shares of the company’s stock after acquiring an additional 9,579 shares during the quarter. APG Asset Management N.V.’s holdings in Corpay were worth $15,102,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Corpay by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock valued at $2,745,398,000 after acquiring an additional 119,987 shares during the last quarter. JPMorgan Chase & Co. grew its position in Corpay by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after acquiring an additional 472,147 shares during the last quarter. Boston Partners grew its position in Corpay by 5.8% in the 1st quarter. Boston Partners now owns 2,163,940 shares of the company’s stock valued at $751,371,000 after acquiring an additional 118,542 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Corpay by 12.3% in the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock worth $660,731,000 after buying an additional 208,067 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Corpay by 30.7% in the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock worth $444,639,000 after buying an additional 299,452 shares during the period. Institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 4.1%

Shares of NYSE CPAY opened at $330.7930 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $23.36 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.26 and a beta of 0.96. Corpay, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81. The business has a fifty day moving average price of $325.39 and a 200 day moving average price of $333.49.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.55 EPS. Equities research analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CPAY shares. UBS Group lowered their target price on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Morgan Stanley lowered their target price on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday, June 10th. Oppenheimer started coverage on Corpay in a report on Monday, April 28th. They issued a “market perform” rating for the company. Finally, Wall Street Zen cut Corpay from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $399.43.

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.