Corpay, Inc. (NYSE:CPAY) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Corpay, Inc. by 19.5% during the 1st quarter, acquiring an additional 20,234 shares, bringing its total ownership to approximately 123,894 shares valued at $43.2 million.
• Corpay reported EPS of $5.13 for its latest quarter, surpassing analysts' expectations, with revenues rising by 12.9% year-over-year.
• Wall Street analysts maintain a favorable outlook on Corpay, with an average rating of "Moderate Buy" and a consensus price target of $397.93.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 19.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,894 shares of the company's stock after acquiring an additional 20,234 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Corpay worth $43,204,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its position in Corpay by 6.2% during the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock worth $11,642,000 after purchasing an additional 1,942 shares during the period. DAVENPORT & Co LLC acquired a new position in Corpay in the 1st quarter valued at $213,000. GAMMA Investing LLC raised its holdings in Corpay by 9.9% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock valued at $560,000 after acquiring an additional 145 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Corpay by 9.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock valued at $1,016,000 after acquiring an additional 246 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Corpay by 15.2% in the 1st quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock valued at $662,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Price Performance

Shares of NYSE CPAY traded down $1.09 during mid-day trading on Thursday, reaching $315.51. 191,562 shares of the company traded hands, compared to its average volume of 496,410. Corpay, Inc. has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. 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 firm has a market cap of $22.28 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.18 and a beta of 0.96. The stock has a fifty day simple moving average of $328.28 and a 200-day simple moving average of $337.21.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $4.55 earnings per share. The business's revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CPAY has been the subject of a number of research analyst reports. Robert W. Baird set a $440.00 price objective on Corpay in a report on Tuesday, June 10th. Wells Fargo & Company lowered their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Oppenheimer initiated coverage on shares of Corpay in a research report on Monday, April 28th. They set a "market perform" rating on the stock. Finally, Morgan Stanley set a $356.00 target price on shares of Corpay and gave the stock an "equal weight" rating in a report on Monday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $396.33.

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.