Livforsakringsbolaget Skandia Omsesidigt Has $10.51 Million Position in Corpay, Inc. $CPAY

Livforsakringsbolaget Skandia Omsesidigt raised its position in Corpay, Inc. (NYSE:CPAY) by 21.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,700 shares of the company’s stock after acquiring an additional 5,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Corpay were worth $10,512,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Corpay by 1.5% in the first 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. lifted its stake in Corpay by 11.1% in the first 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 lifted its stake in Corpay by 5.8% in the first 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 stake in Corpay by 12.3% in the first quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock valued at $660,731,000 after acquiring an additional 208,067 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Corpay by 30.7% in the first quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock valued at $444,639,000 after acquiring an additional 299,452 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analyst Ratings Changes

CPAY has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a research note on Thursday, July 17th. They set a “buy” rating and a $390.00 target price for the company. Morgan Stanley decreased their target price on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Robert W. Baird set a $440.00 target price on shares of Corpay in a report on Tuesday, June 10th. Wall Street Zen upgraded shares of Corpay from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Finally, UBS Group reduced their price target on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $399.43.

Corpay Price Performance

Shares of NYSE:CPAY opened at $304.87 on Friday. The company’s 50-day moving average is $320.25 and its 200 day moving average is $326.78. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $21.53 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00. Corpay, Inc. has a fifty-two week low of $269.02 and a fifty-two week high of $400.81.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating the consensus estimate of $5.11 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 earnings per share. On average, equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.