BI Asset Management Fondsmaeglerselskab A S Purchases 15,464 Shares of 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 stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 320.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,294 shares of the company's stock after buying 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 filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Meeder Advisory Services Inc. raised its holdings in shares of Corpay by 5.0% in the first quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock valued at $236,000 after purchasing an additional 32 shares during the last quarter. Townsquare Capital LLC raised its holdings in shares of Corpay by 0.7% in the first quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock valued at $1,576,000 after purchasing an additional 32 shares during the last quarter. Fulton Bank N.A. raised its holdings in shares of Corpay by 2.1% in the first quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock valued at $581,000 after purchasing an additional 34 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Corpay by 3.2% in the first quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock valued at $387,000 after purchasing an additional 34 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in shares of Corpay by 29.6% in the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after purchasing an additional 42 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Performance

Shares of Corpay stock traded up $13.1330 during trading on Friday, reaching $330.7930. The company's stock had a trading volume of 360,730 shares, compared to its average volume of 555,364. The business's 50-day moving average price is $325.39 and its 200-day moving average price is $334.26. The firm has a market cap of $23.36 billion, a PE ratio of 22.47, a P/E/G ratio of 1.20 and a beta of 0.96. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48.

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 analysts' consensus estimates of $5.11 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. Corpay's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.55 earnings per share. Equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CPAY shares. Robert W. Baird set a $440.00 price objective on shares of Corpay in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price for the company. Wall Street Zen cut shares of Corpay from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. UBS Group decreased their target price on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Raymond James Financial set a $392.00 target price on shares of Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corpay currently has an average rating of "Moderate Buy" and a consensus price target 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.