Cumberland Partners Ltd Buys 1,000 Shares of Corpay, Inc. (NYSE:CPAY)

Key Points

• Cumberland Partners Ltd increased its stake in Corpay, Inc. (NYSE:CPAY) by 50.0%, acquiring an additional 1,000 shares, bringing its total holdings to 3,000 shares valued at over $1 million.
• Analyst reports show mixed ratings for CPAY, with 11 buy ratings, 5 hold ratings, and a current average target price of $401.07, down from previous estimates by some investment firms.
• The company reported $4.51 earnings per share during its last earnings announcement, slightly beating consensus estimates, and achieved a net margin of 25.15%.

Cumberland Partners Ltd lifted its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 50.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,000 shares of the company's stock after purchasing an additional 1,000 shares during the period. Cumberland Partners Ltd's holdings in Corpay were worth $1,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Corpay by 20.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after acquiring an additional 1,000,699 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Corpay by 1.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after acquiring an additional 20,937 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Corpay by 163.7% in the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock valued at $570,801,000 after acquiring an additional 1,047,080 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Corpay by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 779,288 shares of the company's stock valued at $263,722,000 after acquiring an additional 42,945 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Corpay by 17.6% in the 4th quarter. Northern Trust Corp now owns 660,091 shares of the company's stock valued at $223,388,000 after acquiring an additional 98,970 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James Financial reduced their price target on Corpay from $414.00 to $392.00 and set an "outperform" rating for the company in a report on Thursday. Robert W. Baird set a $440.00 price objective on Corpay in a report on Tuesday, June 10th. UBS Group reduced their price objective on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Oppenheimer started coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating for the company. Finally, Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $399.60.

Corpay Price Performance

CPAY traded up $0.35 during trading on Thursday, hitting $315.42. 254,021 shares of the stock traded hands, compared to its average volume of 488,503. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The company has a market cap of $22.23 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.21 and a beta of 0.96. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50 day moving average price of $330.17 and a 200 day moving average price of $339.56.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $4.55 earnings per share. The company's revenue was up 12.9% on a year-over-year basis. Equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share 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.