Corpay, Inc. $CPAY Shares Bought by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. increased its stake in Corpay, Inc. by 25.8%, acquiring an additional 9,579 shares, bringing its total to approximately 46,779 shares valued at $15.1 million.
• Corpay's recent earnings report showed earnings per share of $5.13, slightly beating consensus estimates, with quarterly revenue of $1.1 billion, a 12.9% increase compared to the previous year.
• Wall Street analysts have a mixed outlook on Corpay, with an average consensus rating of "Moderate Buy" and target prices ranging from $340.00 to $440.00.

APG Asset Management N.V. lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 25.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,779 shares of the company's stock after acquiring an additional 9,579 shares during the period. APG Asset Management N.V. owned 0.07% of Corpay worth $15,102,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Corpay by 0.3% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,666 shares of the company's stock worth $4,417,000 after purchasing an additional 35 shares during the last quarter. Norinchukin Bank The raised its stake in shares of Corpay by 15.8% during the first quarter. Norinchukin Bank The now owns 3,699 shares of the company's stock worth $1,290,000 after purchasing an additional 505 shares during the last quarter. CW Advisors LLC raised its stake in shares of Corpay by 62.0% during the first quarter. CW Advisors LLC now owns 1,947 shares of the company's stock worth $682,000 after purchasing an additional 745 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. raised its stake in shares of Corpay by 32.4% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 454,604 shares of the company's stock worth $158,530,000 after purchasing an additional 111,305 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Corpay by 320.2% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,294 shares of the company's stock worth $7,077,000 after purchasing an additional 15,464 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Price Performance

NYSE:CPAY traded up $0.47 during trading hours on Friday, hitting $325.64. The company's stock had a trading volume of 220,596 shares, compared to its average volume of 528,419. The business's 50-day moving average is $325.77 and its two-hundred day moving average is $332.13. The company has a market capitalization of $22.99 billion, a PE ratio of 22.12, a PEG ratio of 1.24 and a beta of 0.96. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating 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 return on equity of 39.13% and a net margin of 25.17%.Corpay's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.55 earnings per share. As a group, research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley cut their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. Robert W. Baird set a $440.00 price target on Corpay in a research note on Tuesday, June 10th. Wall Street Zen cut Corpay from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 price target for the company. Finally, UBS Group cut their price target on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Corpay presently has an average rating of "Moderate Buy" and an average target price of $399.43.

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.