IFM Investors Pty Ltd Boosts Position in Corpay, Inc. $CPAY

Key Points

• IFM Investors Pty Ltd increased its stake in Corpay, Inc. by 6.8%, acquiring an additional 846 shares, bringing its total holdings to 13,278 shares worth approximately $4.4 million.
• Corpay has recently received mixed analyst ratings with price targets ranging from $340 to $440, indicating a consensus rating of "Moderate Buy" among nine analysts.
• The company reported a net income of $5.13 EPS for the quarter, exceeding expectations, and experienced a 12.9% year-over-year growth in revenue to $1.10 billion.

IFM Investors Pty Ltd increased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 6.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,278 shares of the company's stock after purchasing an additional 846 shares during the period. IFM Investors Pty Ltd's holdings in Corpay were worth $4,406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPAY. Zions Bancorporation National Association UT acquired a new stake in shares of Corpay in the first quarter worth about $41,000. Rakuten Securities Inc. acquired a new stake in Corpay in the first quarter worth $45,000. Larson Financial Group LLC raised its holdings in shares of Corpay by 309.5% during the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after acquiring an additional 130 shares during the period. Whipplewood Advisors LLC lifted its position in Corpay by 648.0% during the 1st quarter. Whipplewood Advisors LLC now owns 187 shares of the company's stock worth $65,000 after buying an additional 162 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Corpay by 22.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 261 shares of the company's stock worth $91,000 after purchasing an additional 47 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPAY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target 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. UBS Group decreased their price target on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Morgan Stanley lowered their price objective on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Finally, Robert W. Baird set a $440.00 price target on shares of Corpay in a research report on Tuesday, June 10th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $399.43.

Corpay Trading Down 0.6%

Shares of NYSE CPAY traded down $1.92 during trading hours on Monday, hitting $300.01. 579,613 shares of the company traded hands, compared to its average volume of 387,781. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The stock has a market capitalization of $21.18 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.14 and a beta of 1.00. The company's 50 day moving average price is $319.80 and its 200 day moving average price is $326.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48.

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, beating analysts' consensus estimates 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 analysts' expectations of $1.09 billion. During the same period last year, the business posted $4.55 earnings per share. The firm's revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Corpay 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.