Livforsakringsbolaget Skandia Omsesidigt Has $10.51 Million Stake in Corpay, Inc. $CPAY

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Corpay, Inc. by 21% in Q2, holding 31,700 shares valued at approximately $10.51 million.
• Institutional investors and hedge funds own 98.84% of Corpay's stock, indicating strong institutional interest in the company.
• Corpay reported $5.13 EPS for its latest quarter, beating estimates and showcasing a revenue increase of 12.9% year-over-year.

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 21.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 31,700 shares of the company's stock after acquiring an additional 5,500 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Corpay were worth $10,512,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in shares of Corpay during the 1st quarter valued at about $41,000. Rakuten Securities Inc. acquired a new position in shares of Corpay during the 1st quarter valued at about $45,000. Larson Financial Group LLC boosted its holdings in Corpay by 309.5% during the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after acquiring an additional 130 shares during the period. Continuum Advisory LLC boosted its holdings in Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after acquiring an additional 42 shares during the period. Finally, Whipplewood Advisors LLC boosted its holdings in Corpay by 648.0% during the first quarter. Whipplewood Advisors LLC now owns 187 shares of the company's stock valued at $65,000 after acquiring an additional 162 shares during the period. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Performance

Shares of NYSE CPAY traded up $2.41 during mid-day trading on Tuesday, hitting $302.33. The company had a trading volume of 163,457 shares, compared to its average volume of 485,502. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The business's 50-day simple moving average is $319.27 and its 200-day simple moving average is $325.88. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The firm has a market cap of $21.35 billion, a P/E ratio of 20.57, a PEG ratio of 1.14 and a beta of 1.00.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. 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 earned $4.55 earnings per share. The firm's revenue was up 12.9% on a year-over-year basis. As a group, analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the company an "outperform" rating in a report 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 for the company in a report on Thursday, August 7th. Wall Street Zen cut shares of Corpay from a "buy" rating to a "hold" rating in a report on Saturday. Robert W. Baird set a $440.00 price target on shares of Corpay in a report on Tuesday, June 10th. Finally, Morgan Stanley decreased their price target on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Corpay presently has a consensus rating of "Moderate Buy" and an average target price of $399.43.

About Corpay

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.