Clifford Swan Investment Counsel LLC Acquires New Holdings in Corpay, Inc. $CPAY

Key Points

• Clifford Swan Investment Counsel LLC has acquired a new stake in Corpay, Inc. worth approximately $1.33 million by purchasing 4,003 shares during the 2nd quarter.
• Certain institutional investors, including Vanguard Group and JPMorgan Chase, have increased their holdings in Corpay significantly, with institutional investors holding 98.84% of the company's shares.
• Corpay reported earnings of $5.13 per share for the last quarter, surpassing analyst expectations and showing a 12.9% increase in revenue year-over-year.

Clifford Swan Investment Counsel LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,003 shares of the company's stock, valued at approximately $1,328,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Corpay by 1.5% during the first 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 last quarter. JPMorgan Chase & Co. grew its holdings in Corpay by 11.1% during the first 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 last quarter. Boston Partners grew its holdings in Corpay by 5.8% during the first quarter. Boston Partners now owns 2,163,940 shares of the company's stock valued at $751,371,000 after purchasing an additional 118,542 shares during the last quarter. Invesco Ltd. grew its holdings in Corpay by 12.3% during the first 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 last quarter. Finally, Wellington Management Group LLP grew its holdings in Corpay by 30.7% during the first quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company's stock valued at $444,639,000 after purchasing an additional 299,452 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Trading Up 0.4%

Shares of Corpay stock opened at $284.24 on Friday. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The company's fifty day simple moving average is $303.10 and its 200-day simple moving average is $317.97. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.07 and a beta of 0.97.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share 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 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 earned $4.55 earnings per share. The business's revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CPAY shares. Morgan Stanley lowered their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the stock an "outperform" rating in a research note on Thursday, August 7th. UBS Group lowered their price objective on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Corpay in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $395.58.

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.

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