Boston Partners Has $751.37 Million Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Key Points

• Boston Partners has increased its stake in Corpay, Inc. by 5.8%, now owning 2,163,940 shares valued at approximately $751 million, making it the 22nd largest holding in their portfolio.
• Corpay reported a 12.9% year-over-year increase in revenue and earnings of $5.13 per share, slightly surpassing analyst expectations during their latest quarterly earnings announcement.
• The company's stock has received multiple upgrades, with a consensus rating of "Moderate Buy" and an average target price of $396.33 from various research analysts.

Boston Partners boosted its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,163,940 shares of the company's stock after purchasing an additional 118,542 shares during the quarter. Corpay makes up approximately 0.9% of Boston Partners' holdings, making the stock its 22nd largest holding. Boston Partners owned about 3.08% of Corpay worth $751,371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Corpay by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company's stock valued at $2,745,398,000 after purchasing an additional 119,987 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after purchasing an additional 1,000,699 shares during the period. JPMorgan Chase & Co. boosted its position in Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock valued at $1,648,970,000 after purchasing an additional 472,147 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Corpay by 1.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after purchasing an additional 20,937 shares during the period. Finally, Invesco Ltd. boosted its position in Corpay by 12.3% during the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company's stock valued at $660,731,000 after purchasing an additional 208,067 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Down 0.8%

Shares of CPAY stock traded down $2.70 on Friday, reaching $317.53. 543,137 shares of the company's stock traded hands, compared to its average volume of 580,295. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $22.42 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.20 and a beta of 0.96. The business's 50 day moving average price is $327.66 and its two-hundred day moving average price is $336.06.

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Robert W. Baird set a $440.00 target price on Corpay in a research note on Tuesday, June 10th. Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a research note on Saturday. Raymond James Financial set a $392.00 target price on Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 target price on the stock. Finally, Morgan Stanley set a $356.00 target price on Corpay and gave the company an "equal weight" rating in a research note on Monday, August 11th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $396.33.

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.