Invesco Ltd. Has $660.73 Million Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Key Points

• Invesco Ltd. has increased its holdings in Corpay, Inc. by 12.3% in Q1, owning approximately 2.70% of the company, valued at $660.73 million.
• Corpay's recent EPS of $5.13 exceeded analysts' expectations, and the company reported a 12.9% revenue growth year-over-year, with a total revenue of $1.10 billion.
• Equity research analysts have mixed views on Corpay, with price targets ranging from $339.00 to $400.00, and a consensus rating of Moderate Buy.

Invesco Ltd. increased its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 12.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,894,732 shares of the company's stock after purchasing an additional 208,067 shares during the period. Invesco Ltd. owned approximately 2.70% of Corpay worth $660,731,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CPAY. LPL Financial LLC raised its holdings in Corpay by 19.7% in the 4th quarter. LPL Financial LLC now owns 9,823 shares of the company's stock valued at $3,324,000 after acquiring an additional 1,620 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Corpay by 11.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 77,672 shares of the company's stock valued at $26,286,000 after acquiring an additional 7,881 shares in the last quarter. Federated Hermes Inc. raised its holdings in Corpay by 6,150.0% in the 4th quarter. Federated Hermes Inc. now owns 250 shares of the company's stock valued at $85,000 after acquiring an additional 246 shares in the last quarter. Covestor Ltd raised its holdings in Corpay by 31.4% in the 4th quarter. Covestor Ltd now owns 276 shares of the company's stock valued at $93,000 after acquiring an additional 66 shares in the last quarter. Finally, Distillate Capital Partners LLC acquired a new position in shares of Corpay in the 4th quarter worth approximately $16,878,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Trading Down 0.9%

Corpay stock opened at $301.73 on Friday. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a market capitalization of $21.27 billion, a P/E ratio of 20.50, a PEG ratio of 1.15 and a beta of 0.96. The stock has a 50-day simple moving average of $329.21 and a 200 day simple moving average of $338.35.

Corpay (NYSE:CPAY - Get Free Report) last posted 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 return on equity of 39.13% and a net margin of 25.17%. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter last year, the company posted $4.55 earnings per share. Corpay's quarterly revenue was up 12.9% on a year-over-year basis. Analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CPAY shares. Barclays dropped their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price target for the company. Oppenheimer assumed coverage on Corpay in a research report on Monday, April 28th. They issued a "market perform" rating on the stock. Wells Fargo & Company decreased their price objective on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James Financial reduced their price target on Corpay from $414.00 to $392.00 and set an "outperform" rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corpay currently has an average rating of "Moderate Buy" and an average target price of $397.93.

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.

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