Swedbank AB Acquires 3,100 Shares of Corpay, Inc. $CPAY

Swedbank AB increased its position in shares of Corpay, Inc. (NYSE:CPAY) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 272,817 shares of the company’s stock after purchasing an additional 3,100 shares during the period. Swedbank AB’s holdings in Corpay were worth $95,137,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. First Hawaiian Bank raised its stake in Corpay by 16.6% during the 1st quarter. First Hawaiian Bank now owns 7,696 shares of the company’s stock worth $2,684,000 after buying an additional 1,095 shares during the period. Strs Ohio acquired a new position in Corpay during the 1st quarter worth approximately $25,928,000. Intech Investment Management LLC raised its stake in Corpay by 30.4% during the 1st quarter. Intech Investment Management LLC now owns 3,341 shares of the company’s stock worth $1,165,000 after buying an additional 778 shares during the period. Capital Impact Advisors LLC acquired a new position in Corpay during the 1st quarter worth approximately $8,177,000. Finally, Advisory Alpha LLC raised its stake in Corpay by 13.1% during the 1st quarter. Advisory Alpha LLC now owns 2,061 shares of the company’s stock worth $719,000 after buying an additional 238 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Performance

Shares of Corpay stock opened at $307.41 on Friday. The company has a market cap of $21.71 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The business has a 50 day moving average price of $322.35 and a 200-day moving average price of $328.44. 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 issued its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.Corpay’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the business posted $4.55 earnings per share. Equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CPAY shares. Morgan Stanley dropped their price target on Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Robert W. Baird set a $440.00 price target on Corpay in a research note on Tuesday, June 10th. Raymond James Financial set a $392.00 price objective on Corpay and gave the stock an “outperform” rating in a research note on Thursday, August 7th. UBS Group lowered their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Corpay in a research note on Thursday, July 17th. They issued a “buy” rating and a $390.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $399.43.

Corpay Company 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.