MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $3.69 Million Stake in Corpay, Inc. $CPAY

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Corpay, Inc. ($CPAY) by 54.6%, holding a total of 10,590 shares valued at approximately $3.69 million.
• Corpay received several upgrades from brokerages, with a majority of analysts giving it a Moderate Buy rating and an average price target of $399.43.
• The company reported significant quarterly earnings, with $5.13 EPS that exceeded expectations, and a year-over-year revenue growth of 12.9%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 54.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,590 shares of the company's stock after acquiring an additional 3,739 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Corpay were worth $3,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CPAY. GAMMA Investing LLC boosted its position in shares of Corpay by 38,235.3% during the 1st quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock worth $195,177,000 after acquiring an additional 558,236 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Corpay by 4,811.9% during the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock worth $194,326,000 after acquiring an additional 545,907 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock worth $1,648,970,000 after acquiring an additional 472,147 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Corpay during the 1st quarter worth approximately $104,428,000. Finally, Wellington Management Group LLP boosted its position in shares of Corpay by 30.7% during the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company's stock worth $444,639,000 after acquiring an additional 299,452 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CPAY. Morgan Stanley reduced their price target on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. UBS Group cut their target price on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the company an "outperform" rating in a research report on Thursday, August 7th. Robert W. Baird set a $440.00 target price on shares of Corpay in a research report on Tuesday, June 10th. Finally, Wall Street Zen upgraded shares of Corpay from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $399.43.

Corpay Trading Down 1.9%

Shares of NYSE:CPAY traded down $5.76 during mid-day trading on Thursday, reaching $304.87. 467,155 shares of the company's stock were exchanged, compared to its average volume of 351,326. The firm has a market capitalization of $21.53 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.18 and a beta of 1.00. The business's fifty day moving average price is $320.25 and its 200-day moving average price is $326.78. 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 twelve month low of $269.02 and a twelve month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly 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. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. Corpay's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.55 earnings per share. On average, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal 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.