Korea Investment CORP Buys 19,975 Shares of Corpay, Inc. $CPAY

Key Points

• Korea Investment CORP increased its stake in Corpay, Inc. ($CPAY) by 26.3%, owning approximately 0.14% of the company, valued at $33.42 million following the acquisition of almost 20,000 additional shares.
• Corpay recently reported earnings per share (EPS) of $5.13 for the last quarter, surpassing analyst expectations and marking a 12.9% revenue growth compared to the previous year.
• Equities analysts maintain a mostly positive outlook on CPAY, with an average rating of "Moderate Buy" and a target price around $399.43, with several firms issuing varying price targets for the stock.

Korea Investment CORP grew its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,836 shares of the company's stock after purchasing an additional 19,975 shares during the quarter. Korea Investment CORP owned about 0.14% of Corpay worth $33,420,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of CPAY. Colonial Trust Co SC boosted its position in Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after purchasing an additional 53 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Corpay during the first quarter valued at approximately $41,000. Rakuten Securities Inc. acquired a new position in Corpay during the first quarter valued at approximately $45,000. Larson Financial Group LLC boosted its position in Corpay by 309.5% during the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Finally, Continuum Advisory LLC boosted its position in Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Performance

Shares of NYSE CPAY traded up $13.1330 during trading hours on Friday, reaching $330.7930. 360,730 shares of the stock were exchanged, compared to its average volume of 555,364. The firm has a market capitalization of $23.36 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 1.20 and a beta of 0.96. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The stock's fifty day simple moving average is $325.39 and its 200 day simple moving average is $334.26.

Corpay (NYSE:CPAY - Get Free Report) last announced its 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. The company 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%.The firm's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.55 earnings per share. Sell-side analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on CPAY shares. Raymond James Financial set a $392.00 price target on Corpay and gave the company an "outperform" rating in a research report on Thursday, August 7th. Oppenheimer assumed coverage on Corpay in a research report on Monday, April 28th. They issued a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a research report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective for the company. Morgan Stanley cut their price objective 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. Finally, UBS Group cut their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $399.43.

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.