Banco Bilbao Vizcaya Argentaria S.A. Trims Position in Corpay, Inc. $CPAY

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in Corpay, Inc. by 5.0%, now owning 34,226 shares valued at approximately $11.93 million.
• Several hedge funds have increased their stakes in Corpay, including Vanguard Group, which grew its share to 7.87 million shares worth $2.75 billion.
• Corpay's average rating among analysts is "Moderate Buy," with a consensus target price of $399.43, despite some reductions in price targets by research firms.

Banco Bilbao Vizcaya Argentaria S.A. lowered its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,226 shares of the company's stock after selling 1,798 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Corpay were worth $11,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 valued at $2,745,398,000 after buying an additional 119,987 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 valued at $1,976,651,000 after buying an additional 1,000,699 shares during the last quarter. JPMorgan Chase & Co. boosted 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 valued at $1,648,970,000 after buying an additional 472,147 shares during the last quarter. Boston Partners boosted its position in Corpay by 5.8% in the first quarter. Boston Partners now owns 2,163,940 shares of the company's stock valued at $751,371,000 after buying an additional 118,542 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in Corpay by 1.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock worth $659,890,000 after purchasing an additional 20,937 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Price Performance

NYSE CPAY traded down $7.24 during mid-day trading on Monday, hitting $323.95. The stock had a trading volume of 72,937 shares, compared to its average volume of 493,580. The firm's 50 day moving average is $325.39 and its 200 day moving average is $333.49. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $22.87 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.26 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company earned $4.55 EPS. The firm's revenue was up 12.9% compared to the same quarter last year. Equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CPAY. Oppenheimer began coverage on Corpay in a research report on Monday, April 28th. They issued a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a research report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective on the stock. Morgan Stanley lowered their price objective on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. Robert W. Baird set a $440.00 price objective on Corpay in a research report on Tuesday, June 10th. Finally, Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $399.43.

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.