Asset Management One Co. Ltd. Acquires 80 Shares of Corpay, Inc. $CPAY

Asset Management One Co. Ltd. boosted its holdings in Corpay, Inc. (NYSE:CPAY) by 0.3% in the second quarter, Holdings Channel reports. The institutional investor owned 28,720 shares of the company’s stock after buying an additional 80 shares during the period. Asset Management One Co. Ltd.’s holdings in Corpay were worth $9,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Corpay by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock valued at $2,745,398,000 after purchasing an additional 119,987 shares during the period. JPMorgan Chase & Co. increased its position in Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after purchasing an additional 472,147 shares during the period. Boston Partners increased its position in Corpay by 5.8% during the 1st quarter. Boston Partners now owns 2,163,940 shares of the company’s stock valued at $751,371,000 after purchasing an additional 118,542 shares during the period. Invesco Ltd. increased its position in Corpay by 12.3% during the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock valued at $660,731,000 after purchasing an additional 208,067 shares during the period. Finally, Wellington Management Group LLP increased its position in Corpay by 30.7% during the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock valued at $444,639,000 after purchasing an additional 299,452 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE CPAY opened at $284.52 on Tuesday. The company has a fifty day simple moving average of $301.79 and a 200 day simple moving average of $317.96. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The company has a market cap of $20.09 billion, a P/E ratio of 19.33, a PEG ratio of 1.08 and a beta of 0.97.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on CPAY. UBS Group decreased their target price on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Keefe, Bruyette & Woods reduced their price objective on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Corpay from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $395.58.

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.