UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Corpay, Inc. (NYSE:CPAY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,608 shares of the company's stock after purchasing an additional 84,808 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.58% of Corpay worth $136,589,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in shares of Corpay by 17.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock valued at $8,067,000 after acquiring an additional 3,504 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Corpay by 70.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock valued at $1,689,000 after purchasing an additional 2,059 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Corpay by 68.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company's stock valued at $1,342,000 after purchasing an additional 1,611 shares in the last quarter. Journey Strategic Wealth LLC acquired a new stake in shares of Corpay during the 4th quarter worth about $499,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Corpay during the fourth quarter worth about $28,632,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Trading Up 2.8%

NYSE CPAY traded up $8.93 during mid-day trading on Tuesday, hitting $333.24. The company's stock had a trading volume of 577,969 shares, compared to its average volume of 480,120. The firm has a market capitalization of $23.49 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The stock's fifty day simple moving average is $327.08 and its two-hundred day simple moving average is $350.08.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted $4.10 EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. Research analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Raymond James reissued an "outperform" rating and set a $414.00 price target (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Royal Bank of Canada raised their price objective on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Barclays dropped their target price on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley lifted their price target on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $395.07.

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.