20,542 Shares in Corpay, Inc. $CPAY Purchased by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. acquired 20,542 shares of Corpay, Inc. ($CPAY) valued at approximately $7.16 million, indicating strong institutional interest in the company.
• Corpay's most recent earnings report showed an EPS of $5.13, slightly above the estimated $5.11, with revenue reaching $1.1 billion for the quarter, reflecting a 12.9% year-over-year growth.
• Research analysts' ratings on Corpay are mixed, with six holding a "hold" rating and ten a "buy" rating, alongside a consensus target price of $396.33 despite recent price target reductions by some analysts.

Northwest & Ethical Investments L.P. purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 20,542 shares of the company's stock, valued at approximately $7,163,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted 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 worth $2,745,398,000 after buying an additional 119,987 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after buying an additional 1,000,699 shares in the last quarter. JPMorgan Chase & Co. lifted 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 worth $1,648,970,000 after buying an additional 472,147 shares in the last quarter. Boston Partners lifted its position in Corpay by 5.8% during the 1st quarter. Boston Partners now owns 2,163,940 shares of the company's stock worth $751,371,000 after buying an additional 118,542 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position 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 worth $659,890,000 after buying an additional 20,937 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CPAY shares. Wells Fargo & Company reduced their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird set a $440.00 price target on shares of Corpay in a research report on Tuesday, June 10th. UBS Group dropped their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Wall Street Zen cut Corpay from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective for the company. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $396.33.

Corpay Trading Down 0.8%

NYSE:CPAY opened at $317.53 on Monday. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The business has a 50 day moving average price of $327.66 and a two-hundred day moving average price of $335.70. The company has a market cap of $22.42 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.20 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating the consensus estimate 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%. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.55 EPS. As a group, analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.

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