Nordea Investment Management AB Buys 6,775 Shares of Corpay, Inc. $CPAY

Key Points

• Nordea Investment Management AB increased its stake in Corpay, Inc. by 50.1% during Q2, purchasing an additional 6,775 shares, bringing its total holdings to 20,297 shares valued at approximately $6.67 million.
• Corpay's latest quarterly earnings report showed earnings per share (EPS) of $5.13, surpassing analyst expectations by $0.02, with revenue of $1.10 billion, marking a 12.9% increase from the previous year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Corpay, with an average price target of $395.58.

Nordea Investment Management AB raised its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 50.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,297 shares of the company's stock after buying an additional 6,775 shares during the period. Nordea Investment Management AB's holdings in Corpay were worth $6,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. bought a new position in shares of Corpay in the second quarter valued at $33,000. Ameritas Advisory Services LLC bought a new position in shares of Corpay in the second quarter valued at $37,000. Zions Bancorporation National Association UT bought a new position in shares of Corpay in the first quarter valued at $41,000. Larson Financial Group LLC lifted its stake 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 buying an additional 130 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Corpay by 19.4% in the second quarter. Blue Trust Inc. now owns 246 shares of the company's stock valued at $82,000 after buying an additional 40 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Corpay Stock Performance

NYSE CPAY opened at $286.24 on Tuesday. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. The company has a 50-day simple moving average of $304.93 and a 200 day simple moving average of $318.46. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $20.21 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.08 and a beta of 0.97.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company posted $4.55 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Corpay from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Corpay in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their target price on shares of Corpay from $445.00 to $400.00 and set an "outperform" rating for the company in a report on Wednesday, October 1st. Finally, 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 for the company. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $395.58.

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.

Want to see what other hedge funds are holding CPAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corpay, Inc. (NYSE:CPAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.