T. Rowe Price Investment Management Inc. Has $612.56 Million Stock Position in Corpay, Inc. $CPAY

Key Points

• T. Rowe Price Investment Management Inc. decreased its stake in Corpay, Inc. by 9.9%, owning approximately 2.50% of the company, valued at $612.56 million after selling 193,307 shares.
• Corpay's earnings report revealed a 12.9% year-over-year revenue increase, reporting $1.10 billion for the quarter, surpassing consensus estimates.
• Analysts have mixed opinions on Corpay's stock, with target price estimates ranging from $339.00 to $440.00 and an average rating of "Moderate Buy."

T. Rowe Price Investment Management Inc. decreased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,756,606 shares of the company's stock after selling 193,307 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.50% of Corpay worth $612,564,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CPAY. Van Lanschot Kempen Investment Management N.V. raised its holdings in Corpay by 32.4% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 454,604 shares of the company's stock worth $158,530,000 after purchasing an additional 111,305 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Corpay by 320.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,294 shares of the company's stock worth $7,077,000 after purchasing an additional 15,464 shares in the last quarter. Maven Securities LTD increased its stake in shares of Corpay by 100.4% during the 1st quarter. Maven Securities LTD now owns 1,521 shares of the company's stock worth $530,000 after purchasing an additional 762 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Corpay by 30.7% during the first quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company's stock valued at $444,639,000 after buying an additional 299,452 shares during the period. Finally, Korea Investment CORP lifted its stake in shares of Corpay by 26.3% during the 1st quarter. Korea Investment CORP now owns 95,836 shares of the company's stock worth $33,420,000 after purchasing an additional 19,975 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CPAY shares. Oppenheimer began coverage on shares of Corpay in a report on Monday, April 28th. They issued a "market perform" rating on the stock. Raymond James Financial set a $392.00 price objective on Corpay and gave the stock an "outperform" rating in a report on Thursday, August 7th. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 target price for the company. Finally, Morgan Stanley cut their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $399.43.

Corpay Stock Performance

Corpay stock traded down $6.1750 on Monday, reaching $325.0150. 132,276 shares of the stock were exchanged, compared to its average volume of 493,883. The firm has a fifty day moving average price of $325.39 and a two-hundred day moving average price of $333.49. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The stock has a market cap of $22.95 billion, a PE ratio of 22.11, a PEG ratio of 1.26 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 posted its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating analysts' consensus estimates of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the previous year, the firm posted $4.55 earnings per share. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current 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.