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

Key Points

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Van Lanschot Kempen Investment Management N.V. boosted its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 32.4% during the 1st quarter, according to its most recent 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 quarter. Corpay accounts for approximately 1.7% of Van Lanschot Kempen Investment Management N.V.'s holdings, making the stock its 16th largest position. Van Lanschot Kempen Investment Management N.V. owned approximately 0.65% of Corpay worth $158,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S lifted its position in Corpay by 320.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,294 shares of the company's stock valued at $7,077,000 after acquiring an additional 15,464 shares in the last quarter. Maven Securities LTD lifted its position in Corpay by 100.4% in the 1st quarter. Maven Securities LTD now owns 1,521 shares of the company's stock valued at $530,000 after acquiring an additional 762 shares in the last quarter. Wellington Management Group LLP lifted its position in Corpay by 30.7% in the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company's stock valued at $444,639,000 after acquiring an additional 299,452 shares in the last quarter. Korea Investment CORP lifted its position in Corpay by 26.3% in the 1st quarter. Korea Investment CORP now owns 95,836 shares of the company's stock valued at $33,420,000 after acquiring an additional 19,975 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. bought a new position in Corpay in the 1st quarter valued at approximately $7,163,000. 98.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Raymond James Financial set a $392.00 price objective on Corpay and gave the company an "outperform" rating in a research report on Thursday, August 7th. Oppenheimer assumed coverage on shares of Corpay in a research note on Monday, April 28th. They set a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 target price for the company. 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, Wall Street Zen lowered shares of Corpay from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $399.43.

Corpay Stock Performance

Corpay stock traded up $13.1330 during trading on Friday, reaching $330.7930. The company had a trading volume of 360,730 shares, compared to its average volume of 555,364. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The firm's 50-day simple moving average is $325.39 and its 200 day simple moving average is $334.26. The firm has a market capitalization of $23.36 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.20 and a beta of 0.96. The company has a current ratio of 1.12, a quick 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 EPS for the quarter, topping 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 company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period last year, the firm earned $4.55 EPS. Corpay's revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts forecast that Corpay, Inc. will post 19.76 earnings per share 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.