Select Equity Group L.P. Makes New $29.42 Million Investment in Corpay, Inc. (NYSE:CPAY)

Select Equity Group L.P. purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 86,923 shares of the company's stock, valued at approximately $29,416,000. Select Equity Group L.P. owned approximately 0.12% of Corpay at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CPAY. Invesco Ltd. raised its stake in Corpay by 163.7% in the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock valued at $570,801,000 after buying an additional 1,047,080 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after buying an additional 1,000,699 shares during the last quarter. Norges Bank purchased a new stake in Corpay in the fourth quarter valued at about $241,739,000. Raymond James Financial Inc. purchased a new stake in Corpay in the fourth quarter valued at about $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new stake in Corpay in the fourth quarter valued at about $116,179,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Price Performance

Shares of NYSE:CPAY traded down $7.91 during trading on Tuesday, reaching $340.85. The stock had a trading volume of 420,823 shares, compared to its average volume of 480,518. The stock has a market cap of $24.03 billion, a PE ratio of 24.38, a PEG ratio of 1.32 and a beta of 0.98. The business has a fifty day moving average price of $328.49 and a 200-day moving average price of $350.63. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the prior year, the firm posted $4.10 earnings per share. The firm's quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CPAY shares. UBS Group reduced their target price on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley raised their target price on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Oppenheimer started coverage on Corpay in a research report on Monday, April 28th. They set a "market perform" rating on the stock. Royal Bank of Canada increased their price target on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Finally, Raymond James reaffirmed an "outperform" rating and set a $414.00 target price (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Five 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.