Aberdeen Group plc Boosts Stock 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 boosted its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 114.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,595 shares of the company's stock after acquiring an additional 22,210 shares during the period. Aberdeen Group plc owned 0.06% of Corpay worth $14,339,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC lifted its holdings in Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after acquiring an additional 53 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Corpay during the first quarter worth $41,000. Rakuten Securities Inc. acquired a new position in Corpay during the first quarter worth $45,000. Larson Financial Group LLC lifted its stake in Corpay by 309.5% during the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after purchasing an additional 130 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after purchasing an additional 42 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPAY has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 price target on the stock. Oppenheimer initiated coverage on Corpay in a research note on Monday, April 28th. They set a "market perform" rating on the stock. Morgan Stanley decreased their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Raymond James Financial set a $392.00 price target on Corpay and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Robert W. Baird set a $440.00 price target on Corpay in a research note on Tuesday, June 10th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $399.43.

Corpay Stock Up 4.1%

Shares of Corpay stock traded up $13.1330 during trading hours on Friday, reaching $330.7930. 360,730 shares of the company were exchanged, compared to its average volume of 549,334. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81. The stock's fifty day moving average is $325.39 and its 200 day moving average is $333.49. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $23.36 billion, a PE ratio of 22.47, a PEG ratio of 1.26 and a beta of 0.96.

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