Van Lanschot Kempen Investment Management N.V. Acquires 111,305 Shares of Corpay, Inc. $CPAY

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Van Lanschot Kempen Investment Management N.V. increased its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 32.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,604 shares of the company's stock after acquiring an additional 111,305 shares during the period. Corpay makes up approximately 1.7% of Van Lanschot Kempen Investment Management N.V.'s investment portfolio, making the stock its 16th biggest position. Van Lanschot Kempen Investment Management N.V. owned 0.65% of Corpay worth $158,530,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Corpay by 1.5% in the first quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company's stock worth $2,745,398,000 after acquiring an additional 119,987 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after acquiring an additional 1,000,699 shares in the last quarter. JPMorgan Chase & Co. grew its position in Corpay by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock worth $1,648,970,000 after acquiring an additional 472,147 shares in the last quarter. Boston Partners grew its position in Corpay by 5.8% in the first quarter. Boston Partners now owns 2,163,940 shares of the company's stock worth $751,371,000 after acquiring an additional 118,542 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Corpay by 1.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after buying an additional 20,937 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Wall Street Analyst Weigh In

CPAY has been the subject of several recent analyst reports. Morgan Stanley dropped their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. UBS Group dropped their target price on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. 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 for the company. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Finally, Raymond James Financial set a $392.00 target price on Corpay and gave the company an "outperform" rating in a research report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $399.43.

Corpay Trading Up 4.1%

Shares of NYSE CPAY traded up $13.1330 during trading hours on Friday, reaching $330.7930. The stock had a trading volume of 360,730 shares, compared to its average volume of 549,334. 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 firm has a market cap of $23.36 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 1.26 and a beta of 0.96. The business's fifty day moving average price is $325.39 and its two-hundred day moving average price is $333.49. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81.

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

Corpay Company 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.