Mirae Asset Global Investments Co. Ltd. Buys 1,189 Shares of Corpay, Inc. (NYSE:CPAY)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 18.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,481 shares of the company's stock after acquiring an additional 1,189 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Corpay were worth $2,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CPAY. Vanguard Group Inc. increased its holdings in Corpay by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock worth $2,623,702,000 after purchasing an additional 120,688 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Corpay by 20.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after buying an additional 1,000,699 shares during the period. Boston Partners grew its holdings in shares of Corpay by 6.4% during the fourth quarter. Boston Partners now owns 2,045,398 shares of the company's stock worth $694,847,000 after buying an additional 122,380 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Corpay by 1.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after buying an additional 20,937 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Corpay by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company's stock valued at $584,962,000 after buying an additional 54,894 shares during the last quarter. Institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

Corpay stock traded up $2.00 during midday trading on Friday, reaching $339.10. 409,806 shares of the company's stock were exchanged, compared to its average volume of 477,768. The stock's 50-day simple moving average is $332.04 and its 200 day simple moving average is $342.60. The firm has a market cap of $23.90 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.43 and a beta of 0.95. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. Corpay, Inc. has a 52 week low of $265.06 and a 52 week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The business's revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $4.10 earnings per share. On average, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CPAY. Barclays decreased their price target on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company reduced their target price on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. UBS Group lowered their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Robert W. Baird set a $440.00 price target on shares of Corpay in a research report on Tuesday, June 10th. Finally, Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a report on Monday. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Corpay currently has a consensus rating of "Moderate Buy" and a consensus target price of $401.86.

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.