Nissay Asset Management Corp Japan ADV Boosts Stake in Corpay, Inc. $CPAY

Key Points

• Nissay Asset Management Corp Japan ADV significantly increased its holdings in Corpay, Inc. by 1,048.3% during the first quarter, owning 91,121 shares worth approximately $31.8 million by the end of the reporting period.
• Analysts have mixed views on Corpay, with several firms setting target prices between $340.00 and $392.00, and an average rating of "Moderate Buy" across multiple analysts.
• Corpay, Inc. reported a quarterly EPS of $5.13, surpassing estimates, with revenue of $1.10 billion, reflecting a 12.9% increase year-over-year.

Nissay Asset Management Corp Japan ADV grew its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 1,048.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,121 shares of the company's stock after purchasing an additional 83,186 shares during the period. Nissay Asset Management Corp Japan ADV owned approximately 0.13% of Corpay worth $31,776,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Colonial Trust Co SC lifted its stake in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after buying an additional 53 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Corpay in the first quarter valued at about $41,000. Rakuten Securities Inc. purchased a new position in Corpay in the first quarter valued at about $45,000. Larson Financial Group LLC grew its position in shares of Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Finally, Continuum Advisory LLC raised its stake in Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after purchasing an additional 42 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Down 2.7%

Shares of NYSE:CPAY traded down $8.36 during trading on Wednesday, reaching $304.77. 157,494 shares of the stock were exchanged, compared to its average volume of 486,026. 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, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81. The stock has a fifty day moving average of $324.16 and a two-hundred day moving average of $329.38. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on CPAY shares. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. 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 target price on the stock. Finally, UBS Group cut their price target on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Nine 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, Corpay has an average rating of "Moderate Buy" and an average price target of $399.43.

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.