Aberdeen Group plc Buys 132,131 Shares of Corpay, Inc $CPAY

Key Points

• Aberdeen Group increased its Corpay stake by 281.4% in the third quarter, buying 132,131 shares to hold 179,080 shares valued at about $69.6 million.
• Corpay reported quarterly EPS of $7.54, beating the $7.20 estimate, while revenue of $1.38 billion exceeded expectations and rose 17.9% year over year.
• Analysts maintain a “Moderate Buy” consensus with a $474.38 average price target; meanwhile, company insiders sold 220,860 shares worth about $91.4 million over the past 90 days.

Aberdeen Group plc lifted its position in shares of Corpay, Inc (NYSE:CPAY - Free Report) by 281.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,080 shares of the corporate payments company's stock after purchasing an additional 132,131 shares during the quarter. Aberdeen Group plc owned 0.27% of Corpay worth $69,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted its holdings in Corpay by 87.7% during the third quarter. Allworth Financial LP now owns 1,990 shares of the corporate payments company's stock worth $724,000 after buying an additional 930 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Corpay by 25.2% in the third quarter. Russell Investments Group Ltd. now owns 148,637 shares of the corporate payments company's stock valued at $56,916,000 after buying an additional 29,964 shares in the last quarter. Eurizon Capital SGR S.p.A. increased its holdings in Corpay by 651.6% in the third quarter. Eurizon Capital SGR S.p.A. now owns 30,770 shares of the corporate payments company's stock valued at $11,072,000 after buying an additional 26,676 shares in the last quarter. Fifth Third Bancorp increased its holdings in Corpay by 33.2% in the third quarter. Fifth Third Bancorp now owns 40,473 shares of the corporate payments company's stock valued at $15,265,000 after buying an additional 10,098 shares in the last quarter. Finally, King Luther Capital Management Corp increased its holdings in Corpay by 115.0% in the third quarter. King Luther Capital Management Corp now owns 21,115 shares of the corporate payments company's stock valued at $7,858,000 after buying an additional 11,292 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Insiders Place Their Bets

In other news, CEO Ronald Clarke sold 119,486 shares of Corpay stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $412.40, for a total value of $49,276,026.40. Following the sale, the chief executive officer owned 2,354,330 shares in the company, valued at $970,925,692. This trade represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven T. Stull sold 4,000 shares of Corpay stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $410.66, for a total transaction of $1,642,640.00. Following the completion of the sale, the director owned 23,598 shares in the company, valued at approximately $9,690,754.68. This trade represents a 14.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 220,860 shares of company stock valued at $91,395,514 over the last 90 days. 5.19% of the stock is currently owned by company insiders.

Corpay Trading Up 1.4%

Shares of NYSE:CPAY opened at $462.17 on Friday. Corpay, Inc has a 1 year low of $271.22 and a 1 year high of $479.53. The firm has a market capitalization of $29.56 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.95 and a quick ratio of 0.95. The business's 50 day moving average price is $409.88 and its 200-day moving average price is $363.03.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.20 by $0.34. The firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. Corpay had a net margin of 23.73% and a return on equity of 46.94%. The firm's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $5.70 EPS. On average, equities research analysts forecast that Corpay, Inc will post 26.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Corpay from $470.00 to $525.00 and gave the stock an "outperform" rating in a research note on Thursday, November 5th. Royal Bank Of Canada raised their target price on Corpay from $438.00 to $474.00 and gave the company a "sector perform" rating in a research report on Thursday, November 5th. Weiss Ratings upgraded Corpay from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Morgan Stanley lifted their price target on Corpay from $455.00 to $460.00 and gave the company an "overweight" rating in a research note on Wednesday, October 28th. Finally, UBS Group upped their price target on Corpay from $415.00 to $465.00 and gave the stock a "neutral" rating in a report on Thursday, November 5th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $474.38.

Corpay Company Profile

Corpay is a global corporate payments company that provides businesses with a range of payment and expense management solutions. Its services are designed to help organizations manage payables, card programs, travel and fleet-related expenses, and cross-border transactions more efficiently. The company serves customers across a variety of industries and geographies, offering software and payment tools that streamline accounts payable, vendor payments, and workforce payments. Corpay also provides specialized solutions for fleet management and international payments, helping businesses control costs and simplify financial operations.

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