National Pension Service Increases Holdings in Corpay, Inc. $CPAY

Key Points

• The National Pension Service has increased its stake in Corpay, Inc. by 4.8%, owning approximately 99,452 shares valued at $34.68 million.
• Corpay reported earnings of $5.13 per share for the last quarter, surpassing analysts' expectations, with revenues increasing by 12.9% compared to the previous year.
• Investment firms have shown significant activity in Corpay, with institutional investors now owning 98.84% of the company's stock.

National Pension Service grew its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 4.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 99,452 shares of the company's stock after purchasing an additional 4,510 shares during the period. National Pension Service owned approximately 0.14% of Corpay worth $34,681,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Corpay by 1.5% during the first quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company's stock valued at $2,745,398,000 after purchasing an additional 119,987 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $1,976,651,000 after purchasing an additional 1,000,699 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Corpay by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock valued at $1,648,970,000 after purchasing an additional 472,147 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Corpay by 1.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after purchasing an additional 20,937 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Corpay by 12.3% during the first quarter. Invesco Ltd. now owns 1,894,732 shares of the company's stock valued at $660,731,000 after purchasing an additional 208,067 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several recent research reports. Wall Street Zen lowered shares of Corpay from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the company an "outperform" rating in a report on Thursday, August 7th. UBS Group decreased their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective 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. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $399.43.

Corpay Stock Performance

CPAY traded down $1.5390 during mid-day trading on Thursday, reaching $314.8810. 122,339 shares of the company traded hands, compared to its average volume of 495,467. The stock has a market capitalization of $22.23 billion, a P/E ratio of 21.44, a P/E/G ratio of 1.22 and a beta of 0.96. 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 company's fifty day moving average price is $325.89 and its 200-day moving average price is $335.03. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating analysts' consensus estimates of $5.11 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.55 EPS. On average, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

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.