Corpay, Inc. $CPAY Stake Raised by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its holdings in Corpay, Inc. by 7.4%, acquiring an additional 10,002 shares during the second quarter, bringing its total to approximately $48.4 million.
• Corpay reported strong quarterly earnings with an EPS of $5.13, beating estimates, and a revenue of $1.10 billion, which is a 12.9% year-over-year increase.
• Analysts have set a consensus price target for Corpay at approximately $399.43, with nine analysts rating it as a "Buy" and five as a "Hold."

Assenagon Asset Management S.A. lifted its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,847 shares of the company's stock after acquiring an additional 10,002 shares during the quarter. Assenagon Asset Management S.A. owned 0.21% of Corpay worth $48,395,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CPAY. State of Wyoming grew its position in Corpay by 17.6% during the fourth quarter. State of Wyoming now owns 743 shares of the company's stock valued at $251,000 after buying an additional 111 shares during the period. Tidal Investments LLC grew its position in Corpay by 17.8% during the fourth quarter. Tidal Investments LLC now owns 5,466 shares of the company's stock valued at $1,850,000 after buying an additional 825 shares during the period. Two Sigma Investments LP acquired a new stake in Corpay during the fourth quarter valued at $426,000. Squarepoint Ops LLC grew its position in Corpay by 417.1% during the fourth quarter. Squarepoint Ops LLC now owns 9,669 shares of the company's stock valued at $3,272,000 after buying an additional 7,799 shares during the period. Finally, Vident Advisory LLC lifted its holdings in Corpay by 4.6% during the fourth quarter. Vident Advisory LLC now owns 2,198 shares of the company's stock valued at $744,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CPAY shares. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen downgraded shares of Corpay from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley lowered their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. UBS Group lowered their target price on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Finally, Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Corpay currently has a consensus rating of "Moderate Buy" and an average price target of $399.43.

Corpay Trading Down 0.2%

NYSE CPAY traded down $0.63 during mid-day trading on Tuesday, hitting $299.30. The company's stock had a trading volume of 213,004 shares, compared to its average volume of 485,796. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. The stock's fifty day simple moving average is $319.27 and its two-hundred day simple moving average is $325.88. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $21.13 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 1.14 and a beta of 1.00.

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