Corpay, Inc. (NYSE:CPAY) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Corpay, Inc. (CPAY) by 14.0% during Q1, now holding 16,259 shares valued at approximately $5.67 million.
• Research analysts have provided mixed ratings for CPAY, with five holding, eleven buying, and one strong buy rating, and a consensus price target of $401.07.
• Corpay reported a quarterly EPS of $4.51, surpassing estimates slightly and reflecting a 7.5% increase in revenue year-over-year.

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 14.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,259 shares of the company's stock after buying an additional 1,999 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Corpay were worth $5,670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CPAY. Invesco Ltd. raised its holdings in shares of Corpay by 163.7% during the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock worth $570,801,000 after purchasing an additional 1,047,080 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Corpay by 20.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after purchasing an additional 1,000,699 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Corpay by 38,235.3% during the first quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock worth $195,177,000 after purchasing an additional 558,236 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Corpay by 4,811.9% during the first quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock worth $194,326,000 after purchasing an additional 545,907 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of Corpay during the fourth quarter worth $116,179,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on CPAY. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective for the company. Robert W. Baird set a $440.00 price objective on shares of Corpay in a report on Tuesday, June 10th. UBS Group cut their price objective on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Oppenheimer began coverage on shares of Corpay in a report on Monday, April 28th. They issued a "market perform" rating for the company. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $414.00 price objective (down previously from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $401.07.

Corpay Price Performance

CPAY traded down $3.60 on Tuesday, reaching $320.74. 384,744 shares of the company's stock were exchanged, compared to its average volume of 486,575. The stock has a market cap of $22.61 billion, a PE ratio of 22.49, a P/E/G ratio of 1.20 and a beta of 0.96. Corpay, Inc. has a twelve month low of $265.28 and a twelve month high of $400.81. The stock's fifty day moving average price is $330.75 and its 200-day moving average price is $339.87. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.10 and a quick ratio of 1.10.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping analysts' consensus estimates of $4.50 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Corpay had a net margin of 25.15% and a return on equity of 41.61%. Corpay's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.10 earnings per share. Sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

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.