Corpay, Inc. (NYSE:CPAY) Shares Purchased by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its holdings in Corpay, Inc. by 11.1%, acquiring an additional 472,147 shares to reach a total of 4,728,635 shares, which is approximately 6.73% of the company's stock.
• Several analysts have revised their target prices for Corpay, with Barclays lowering it from $440.00 to $400.00, while Wall Street Zen upgraded its rating from "hold" to "buy."
• Corpay reported earnings of $5.13 per share, surpassing expectations, with a net margin of 25.17% and year-over-year revenue growth of 12.9%.

JPMorgan Chase & Co. increased its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 11.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,728,635 shares of the company's stock after buying an additional 472,147 shares during the quarter. JPMorgan Chase & Co. owned about 6.73% of Corpay worth $1,648,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Corpay by 20.7% in the fourth 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 buying an additional 1,000,699 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Corpay by 38,235.3% in the first quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock valued at $195,177,000 after buying an additional 558,236 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of 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 in the last quarter. Van Lanschot Kempen Investment Management N.V. acquired a new stake in shares of Corpay in the fourth quarter valued at $116,179,000. Finally, Vanguard Group Inc. grew its stake in shares of Corpay by 1.5% in the first quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company's stock valued at $2,745,398,000 after buying an additional 119,987 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

CPAY traded up $3.86 on Thursday, hitting $320.45. 634,190 shares of the company traded hands, compared to its average volume of 573,946. The company has a 50 day moving average of $328.06 and a 200-day moving average of $336.80. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $22.63 billion, a PE ratio of 21.77, a PEG ratio of 1.20 and a beta of 0.96. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen raised Corpay from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Robert W. Baird set a $440.00 target price on Corpay in a research note on Tuesday, June 10th. Oppenheimer initiated coverage on Corpay in a research note on Monday, April 28th. They set a "market perform" rating for the company. Raymond James Financial set a $392.00 price target on Corpay and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Morgan Stanley set a $356.00 price target on Corpay and gave the stock an "equal weight" rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $396.33.

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.