Aberdeen Group plc Has $14.35 Million Position in Corpay, Inc. $CPAY

Key Points

• Aberdeen Group plc increased its stake in Corpay, Inc. by 4.0%, owning 43,256 shares valued at $14.35 million as of the last quarter.
• Analysts have mixed ratings on Corpay, with nine analysts giving a Buy rating and five advising Hold, reflecting an average price target of $397.85.
• Corpay reported strong quarterly results, surpassing earnings estimates with a net margin of 25.17% and revenue growth of 12.9% year-over-year.

Aberdeen Group plc lifted its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 4.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,256 shares of the company's stock after purchasing an additional 1,661 shares during the period. Aberdeen Group plc owned 0.06% of Corpay worth $14,353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in shares of Corpay in the second quarter valued at approximately $37,000. Zions Bancorporation National Association UT bought a new position in shares of Corpay during the first quarter worth $41,000. Rakuten Securities Inc. bought a new position in shares of Corpay during the first quarter worth $45,000. Larson Financial Group LLC lifted its position in Corpay by 309.5% in the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after acquiring an additional 130 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Corpay by 19.4% in the 2nd quarter. Blue Trust Inc. now owns 246 shares of the company's stock valued at $82,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Wall Street Analyst Weigh In

CPAY has been the topic of several research reports. Wall Street Zen cut shares of Corpay from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corpay in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price objective on shares of Corpay from $445.00 to $400.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 1st. UBS Group cut their price objective on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $397.85.

Corpay Stock Up 2.5%

Shares of CPAY stock opened at $289.53 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81. The firm's fifty day moving average price is $306.68 and its two-hundred day moving average price is $319.91. The firm has a market capitalization of $20.44 billion, a P/E ratio of 19.67, a PEG ratio of 1.07 and a beta of 0.97.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. Corpay's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.55 EPS. On average, equities analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.

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