First Hawaiian Bank Has $2.68 Million Stock Holdings in Corpay, Inc. $CPAY

Key Points

• First Hawaiian Bank increased its holdings in Corpay, Inc. by 16.6%, owning a total of 7,696 shares valued at approximately $2.68 million as of the end of the most recent quarter.
• Major institutional investors have significantly increased their stakes in Corpay, with Select Equity Group lifting its position by 1,302.3% and GAMMA Investing by 38,235.3% during the same period.
• Corpay, Inc. reported a 12.9% revenue growth year-over-year, posting earnings per share of $5.13, slightly above the consensus estimate of $5.11 for the quarter.

First Hawaiian Bank increased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,696 shares of the company's stock after acquiring an additional 1,095 shares during the quarter. First Hawaiian Bank's holdings in Corpay were worth $2,684,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CPAY. Select Equity Group L.P. lifted its stake in shares of Corpay by 1,302.3% during the first quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company's stock valued at $425,054,000 after acquiring an additional 1,131,975 shares during the period. GAMMA Investing LLC lifted its stake 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 valued at $195,177,000 after acquiring an additional 558,236 shares during the period. Bessemer Group Inc. lifted its stake in Corpay by 4,811.9% in the first quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock valued at $194,326,000 after buying an additional 545,907 shares during the period. JPMorgan Chase & Co. lifted its stake in Corpay by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock valued at $1,648,970,000 after buying an additional 472,147 shares during the period. Finally, Nuveen LLC bought a new position in Corpay during the first quarter worth about $104,428,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPAY. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 target price on the stock. Morgan Stanley reduced their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday, June 10th. UBS Group reduced their target price on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $399.43.

Corpay Stock Down 2.0%

Shares of Corpay stock opened at $307.41 on Friday. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81. The business has a 50-day moving average of $322.35 and a two-hundred day moving average of $328.44. The company has a market capitalization of $21.71 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company earned $4.55 earnings per share. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that Corpay, Inc. will post 19.76 EPS for the current 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.

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