Axa S.A. Invests $1.72 Million in Corpay, Inc. (NYSE:CPAY)

AXA S.A. purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,084 shares of the company's stock, valued at approximately $1,721,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Corpay by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock valued at $2,623,702,000 after purchasing an additional 120,688 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Corpay by 20.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after acquiring an additional 1,000,699 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after purchasing an additional 120,578 shares during the period. Boston Partners increased its stake in Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after purchasing an additional 122,380 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its stake in Corpay by 1.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after acquiring an additional 20,937 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

CPAY stock traded up $22.39 during midday trading on Monday, reaching $349.68. The company had a trading volume of 731,249 shares, compared to its average volume of 484,875. The firm has a market capitalization of $24.57 billion, a PE ratio of 25.01, a P/E/G ratio of 1.32 and a beta of 0.98. The stock has a 50 day moving average price of $326.84 and a 200 day moving average price of $349.94. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.50 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.10 earnings per share. Analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CPAY shares. Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Morgan Stanley upped their price target on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Raymond James reissued an "outperform" rating and issued a $414.00 price objective (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Finally, UBS Group lowered their price target on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $395.07.

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.