BI Asset Management Fondsmaeglerselskab A S Has $7.08 Million Position in Corpay, Inc. $CPAY

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Corpay, Inc. (NYSE:CPAY) by 320.2%, acquiring an additional 15,464 shares and bringing its total to 20,294 shares valued at approximately $7,077,000.
• Corpay's stock has seen a 1.1% increase, currently trading at $320.0690, with a market capitalization of $22.60 billion and a twelve-month revenue growth of 12.9% year-over-year.
• Analysts have set a consensus price target of $399.43 for Corpay, with ratings indicating strong optimism, including an "outperform" rating from Raymond James Financial.

BI Asset Management Fondsmaeglerselskab A S boosted its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 320.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,294 shares of the company's stock after purchasing an additional 15,464 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Corpay were worth $7,077,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its position in Corpay by 6.2% in the first quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock worth $11,642,000 after purchasing an additional 1,942 shares during the period. DAVENPORT & Co LLC acquired a new stake in Corpay in the first quarter worth approximately $213,000. GAMMA Investing LLC lifted its position in Corpay by 9.9% in the first quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock worth $560,000 after purchasing an additional 145 shares during the period. Janney Montgomery Scott LLC lifted its position in Corpay by 9.2% in the first quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock worth $1,016,000 after purchasing an additional 246 shares during the period. Finally, Park Avenue Securities LLC lifted its position in Corpay by 15.2% in the first quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock worth $662,000 after purchasing an additional 250 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Down 2.2%

NYSE:CPAY traded down $7.24 during trading hours on Monday, hitting $323.95. 72,937 shares of the stock traded hands, compared to its average volume of 493,580. The firm has a 50 day moving average price of $325.39 and a 200 day moving average price of $333.49. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. The firm has a market cap of $22.87 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.26 and a beta of 0.96.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Raymond James Financial set a $392.00 price target on Corpay and gave the company an "outperform" rating in a report on Thursday, August 7th. UBS Group dropped their price target on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Robert W. Baird set a $440.00 price target on Corpay in a report on Tuesday, June 10th. Finally, Oppenheimer started coverage on Corpay in a report on Monday, April 28th. They issued a "market perform" rating on the stock. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $399.43.

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.