Allianz Asset Management GmbH Has $201.72 Million Position in Corpay, Inc. $CPAY

Key Points

• Allianz Asset Management GmbH increased its stake in Corpay, Inc. (NYSE:CPAY) by 6.6%, owning 607,907 shares valued at $201.72 million as of the latest SEC filing.
• Corpay received a consensus rating of "Moderate Buy" from analysts, with a current price target of $395.58, and eight analysts have rated the stock with a Buy rating.
• The company reported $5.13 EPS for the last quarter, exceeding analyst expectations, and its revenue was up 12.9% year-over-year.

Allianz Asset Management GmbH raised its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 607,907 shares of the company's stock after purchasing an additional 37,789 shares during the period. Allianz Asset Management GmbH owned 0.86% of Corpay worth $201,716,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CPAY. Hazlett Burt & Watson Inc. acquired a new stake in shares of Corpay during the second quarter worth approximately $33,000. Ameritas Advisory Services LLC bought a new position in shares of Corpay during the second quarter worth about $37,000. Zions Bancorporation National Association UT acquired a new stake in Corpay in the 1st quarter valued at $41,000. Rakuten Securities Inc. acquired a new stake in Corpay in the 1st quarter valued at about $45,000. Finally, Larson Financial Group LLC raised its holdings 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 during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Corpay in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price on the stock. Morgan Stanley dropped their price objective 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 target price on Corpay and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on Corpay from $445.00 to $400.00 and set an "outperform" rating for the company in a report on Wednesday, October 1st. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $395.58.

Corpay Price Performance

Shares of NYSE:CPAY opened at $287.49 on Thursday. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The stock has a market capitalization of $20.30 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.10 and a beta of 0.97. 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 firm's 50 day moving average price is $306.14 and its 200-day moving average price is $319.69.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the prior year, the firm earned $4.55 EPS. The company's revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts expect that Corpay, Inc. will post 19.76 EPS for the current 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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