Neuberger Berman Group LLC Buys 12,225 Shares of Corpay, Inc. $CPAY

Key Points

• Neuberger Berman Group LLC increased its holdings in Corpay, Inc. (NYSE:CPAY) by 8.7% in Q1, bringing its total ownership to 152,625 shares valued at $53.2 million.
• Corpay reported a 12.9% year-over-year revenue growth, with a quarterly earnings per share (EPS) of $5.13, surpassing analysts' expectations of $5.11.
• Currently, Corpay has a consensus rating of "Moderate Buy" with an average target price of $396.33 following multiple positive ratings from various research firms.

Neuberger Berman Group LLC lifted its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 8.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 152,625 shares of the company's stock after buying an additional 12,225 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.22% of Corpay worth $53,223,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Colonial Trust Co SC lifted its stake in shares of Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after buying an additional 53 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Corpay during the first quarter valued at $41,000. Rakuten Securities Inc. purchased a new position in Corpay during the first quarter valued at $45,000. Larson Financial Group LLC grew its stake in Corpay by 309.5% during the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after acquiring an additional 130 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CPAY. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 target price for the company. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen cut shares of Corpay from a "buy" rating to a "hold" rating in a research note on Saturday. Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. Finally, UBS Group cut their target price on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $396.33.

Corpay Trading Down 0.2%

Shares of CPAY stock traded down $0.76 during trading hours on Monday, reaching $316.90. 385,263 shares of the stock were exchanged, compared to its average volume of 498,847. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The company's 50-day moving average price is $327.66 and its 200-day moving average price is $335.70. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last released 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. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the previous year, the company earned $4.55 EPS. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share 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.