Canada Pension Plan Investment Board Increases Stock Position in Corpay, Inc. $CPAY

Key Points

• The Canada Pension Plan Investment Board increased its stake in Corpay, Inc. by 34.1%, acquiring an additional 20,249 shares, bringing its total ownership to 79,681 shares valued at approximately $27.79 million.
• Corpay reported a quarterly earnings per share of $5.13, exceeding analysts' expectations of $5.11, and experienced a 12.9% year-over-year revenue growth.
• Analysts have set various price targets for Corpay, with an average target of $399.43, reflecting a consensus rating of "Moderate Buy" among nine analysts.

Canada Pension Plan Investment Board lifted its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 34.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,681 shares of the company's stock after purchasing an additional 20,249 shares during the period. Canada Pension Plan Investment Board owned about 0.11% of Corpay worth $27,786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPAY. Colonial Trust Co SC grew its holdings in shares of Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after purchasing an additional 53 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Corpay in the first quarter worth approximately $41,000. Rakuten Securities Inc. acquired a new position in shares of Corpay in the first quarter worth approximately $45,000. Larson Financial Group LLC lifted its stake in shares of Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after acquiring an additional 130 shares during the period. Finally, Continuum Advisory LLC lifted its stake in 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 buying an additional 42 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CPAY has been the topic of a number of research reports. Raymond James Financial set a $392.00 target price on Corpay and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research report on Thursday, July 17th. They set a "buy" rating and a $390.00 target price on the stock. Wall Street Zen lowered Corpay from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, 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 research report on Monday, August 11th. 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $399.43.

Corpay Stock Performance

NYSE:CPAY traded down $3.29 during trading on Friday, reaching $316.65. The company's stock had a trading volume of 254,098 shares, compared to its average volume of 486,090. The firm has a market cap of $22.36 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 1.21 and a beta of 1.00. 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 firm has a 50 day moving average of $325.31 and a 200-day moving average of $330.94. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.55 EPS. Research analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.