Aberdeen Group plc Increases Position in Corpay, Inc. $CPAY

Key Points

• Aberdeen Group plc increased its holdings in Corpay, Inc. by 114.6% during the first quarter, owning 41,595 shares valued at approximately $14.34 million as of the latest SEC filing.
• Corpay reported a 12.9% year-over-year revenue increase for the quarter, with an EPS of $5.13, slightly exceeding the consensus estimate.
• Recent analyst ratings present a consensus of "Moderate Buy" for Corpay's stock, with price targets ranging from $340 to $440.

Aberdeen Group plc grew its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 114.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,595 shares of the company's stock after purchasing an additional 22,210 shares during the quarter. Aberdeen Group plc owned approximately 0.06% of Corpay worth $14,339,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CPAY. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 purchasing an additional 1,000,699 shares during the period. GAMMA Investing LLC lifted its stake in shares of Corpay by 38,235.3% during the 1st quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock worth $195,177,000 after purchasing an additional 558,236 shares during the period. Bessemer Group Inc. lifted its stake in shares of Corpay by 4,811.9% during the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock worth $194,326,000 after purchasing an additional 545,907 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 472,147 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of Corpay during the 4th quarter worth $116,179,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wall Street Zen lowered Corpay from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Oppenheimer started coverage on Corpay in a research note on Monday, April 28th. They set a "market perform" rating on the stock. Raymond James Financial set a $392.00 target price on Corpay and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Finally, Morgan Stanley cut their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $399.43.

Corpay Stock Up 4.1%

NYSE:CPAY traded up $13.1330 during mid-day trading on Friday, hitting $330.7930. The company had a trading volume of 360,730 shares, compared to its average volume of 555,364. The business has a fifty day simple moving average of $325.39 and a 200-day simple moving average of $334.26. 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 has a market capitalization of $23.36 billion, a price-to-earnings ratio of 22.47, a PEG 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. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company posted $4.55 earnings per share. The firm's revenue was up 12.9% compared to the same quarter last year. Equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Corpay Company 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.