MBB Public Markets I LLC Invests $322,000 in Corpay, Inc. $CPAY

Key Points

• MBB Public Markets I LLC invested approximately $322,000 in Corpay, Inc. by acquiring 922 shares during the first quarter, according to a recent SEC filing.
• Corpay's stock has a current consensus rating of "Moderate Buy" from analysts, with a price target averaging $399.43, despite the company's shares recently being down 1.6%.
• The company reported quarterly earnings of $5.13 EPS, exceeding estimates and marking a 12.9% increase in revenue year-over-year.

MBB Public Markets I LLC purchased a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 922 shares of the company's stock, valued at approximately $322,000.

Several other hedge funds have also recently bought and sold shares of CPAY. United Services Automobile Association purchased a new position in shares of Corpay during the 1st quarter worth approximately $578,000. UniSuper Management Pty Ltd raised its position in shares of Corpay by 4.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 7,733 shares of the company's stock worth $2,697,000 after buying an additional 300 shares during the period. Select Equity Group L.P. raised its holdings in shares of Corpay by 1,302.3% in the 1st quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company's stock worth $425,054,000 after purchasing an additional 1,131,975 shares during the period. Nissay Asset Management Corp Japan ADV grew its stake in Corpay by 1,048.3% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 91,121 shares of the company's stock worth $31,776,000 after buying an additional 83,186 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Corpay by 54.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,590 shares of the company's stock valued at $3,693,000 after purchasing an additional 3,739 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CPAY shares. Morgan Stanley lowered their price objective on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the company an "outperform" rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective on the stock. 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 research report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Nine investment 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 an average rating of "Moderate Buy" and a consensus target price of $399.43.

Corpay Price Performance

Shares of NYSE CPAY traded down $6.19 during mid-day trading on Friday, reaching $307.41. 350,339 shares of the company traded hands, compared to its average volume of 485,927. The stock has a fifty day simple moving average of $322.99 and a 200-day simple moving average of $328.88. Corpay, Inc. has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. The firm has a market cap of $21.71 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.15 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 issued its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping the consensus estimate of $5.11 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. Corpay's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.55 earnings per share. Equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.