Neuberger Berman Group LLC Increases Holdings in Corpay, Inc. (NYSE:CPAY)

Neuberger Berman Group LLC increased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,625 shares of the company’s stock after purchasing an additional 12,225 shares during the period. Neuberger Berman Group LLC’s holdings in Corpay were worth $53,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC lifted its holdings in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock worth $33,000 after buying an additional 53 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Corpay in the 1st quarter worth $41,000. Rakuten Securities Inc. acquired a new position in Corpay in the 1st quarter worth $45,000. Larson Financial Group LLC lifted its holdings in Corpay by 309.5% in the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock worth $60,000 after buying an additional 130 shares in the last quarter. Finally, Continuum Advisory LLC lifted its holdings in Corpay by 29.6% in the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company’s stock worth $62,000 after buying an additional 42 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Price Performance

CPAY opened at $316.39 on Thursday. The firm has a market cap of $22.34 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 1.18 and a beta of 0.96. Corpay, Inc. has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. The company’s 50-day moving average price is $328.28 and its 200 day moving average price is $337.21. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48.

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

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of recent analyst reports. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the stock an “outperform” rating in a report on Thursday, August 7th. UBS Group cut their price objective on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Oppenheimer assumed coverage on shares of Corpay in a research note on Monday, April 28th. They issued a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $396.33.

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.