Assenagon Asset Management S.A. Purchases 66,186 Shares of Corpay, Inc. (NYSE:CPAY)

Assenagon Asset Management S.A. raised its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 95.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 135,845 shares of the company's stock after buying an additional 66,186 shares during the period. Assenagon Asset Management S.A. owned about 0.19% of Corpay worth $47,372,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CPAY. Avion Wealth raised its stake in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the last quarter. Colonial Trust Co SC raised its stake in Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after buying an additional 53 shares during the last quarter. Assetmark Inc. raised its stake in Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after buying an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Corpay by 70.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock worth $45,000 after purchasing an additional 55 shares in the last quarter. Finally, Knuff & Co LLC purchased a new stake in shares of Corpay in the 4th quarter worth $54,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Trading Down 7.7%

Shares of NYSE:CPAY traded down $27.07 during trading on Friday, reaching $322.98. The company's stock had a trading volume of 752,935 shares, compared to its average volume of 482,134. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The firm's 50 day simple moving average is $326.42 and its two-hundred day simple moving average is $346.67. The stock has a market capitalization of $22.77 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.32 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm earned $4.10 EPS. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CPAY. UBS Group reduced their price objective on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Barclays reduced their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a research note on Saturday. Raymond James restated an "outperform" rating and issued a $414.00 price objective (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Finally, Robert W. Baird set a $440.00 price target on Corpay in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $398.07.

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.