Corpay, Inc. $CPAY Shares Bought by Czech National Bank

Key Points

• Czech National Bank increased its holdings in Corpay, Inc. by 7.6%, owning 17,230 shares valued at approximately $5.7 million as of the latest SEC filing.
• Wall Street analysts demonstrate a positive outlook on Corpay, with nine analysts rating the stock as a "Buy" and an average price target set at $399.43.
• Corpay, Inc. reported a quarterly earnings per share of $5.13, exceeding analyst expectations and showing a 12.9% increase in revenue compared to the previous year.

Czech National Bank increased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,230 shares of the company's stock after acquiring an additional 1,219 shares during the quarter. Czech National Bank's holdings in Corpay were worth $5,717,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Meeder Advisory Services Inc. increased its position in shares of Corpay by 5.0% during the first quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock worth $236,000 after purchasing an additional 32 shares in the last quarter. Townsquare Capital LLC increased its position in Corpay by 0.7% during the 1st quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock valued at $1,576,000 after buying an additional 32 shares in the last quarter. Fulton Bank N.A. raised its stake in Corpay by 2.1% in the first quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock valued at $581,000 after buying an additional 34 shares during the last quarter. Wedmont Private Capital raised its stake in Corpay by 3.2% in the first quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock valued at $387,000 after buying an additional 34 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Corpay by 0.3% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,666 shares of the company's stock worth $4,417,000 after acquiring an additional 35 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective on the stock. UBS Group decreased their price target on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Morgan Stanley lowered their price objective on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. 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. Finally, Wall Street Zen cut Corpay from a "buy" rating to a "hold" rating in a research report on Saturday. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $399.43.

Corpay Stock Performance

Shares of NYSE CPAY traded down $1.92 during trading on Monday, reaching $300.01. 579,613 shares of the company traded hands, compared to its average volume of 387,781. The stock has a market cap of $21.18 billion, a P/E ratio of 20.38, a PEG ratio of 1.14 and a beta of 1.00. The firm's fifty day simple moving average is $319.27 and its 200 day simple moving average is $325.88. 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, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping the consensus estimate of $5.11 by $0.02. The firm had revenue of $1.10 billion for 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 revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $4.55 earnings per share. As a group, research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.