Nuveen LLC Buys New Shares in Corpay, Inc. (NYSE:CPAY)

Key Points

• Nuveen LLC has acquired a new stake in Corpay, Inc. (NYSE:CPAY), purchasing 299,462 shares valued at approximately $104.4 million, increasing its ownership to 0.43% of the company.
• Institutional investors hold 98.84% of Corpay's stock, with several hedge funds significantly increasing their stakes in the last quarter.
• The stock has recently received mixed analyst ratings, with an average recommendation of "Moderate Buy" and a consensus price target of $396.33.

Nuveen LLC bought a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 299,462 shares of the company's stock, valued at approximately $104,428,000. Nuveen LLC owned about 0.43% of Corpay as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. boosted its holdings in shares of Corpay by 6,150.0% in the fourth quarter. Federated Hermes Inc. now owns 250 shares of the company's stock valued at $85,000 after purchasing an additional 246 shares during the period. Mariner LLC boosted its holdings in shares of Corpay by 11.2% in the fourth quarter. Mariner LLC now owns 9,986 shares of the company's stock valued at $3,379,000 after purchasing an additional 1,005 shares during the period. Walleye Capital LLC boosted its holdings in shares of Corpay by 165.5% in the fourth quarter. Walleye Capital LLC now owns 1,114 shares of the company's stock valued at $377,000 after purchasing an additional 2,814 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Corpay in the fourth quarter valued at approximately $440,000. Finally, Bridgewater Associates LP boosted its holdings in shares of Corpay by 4.6% in the fourth quarter. Bridgewater Associates LP now owns 140,292 shares of the company's stock valued at $47,478,000 after purchasing an additional 6,208 shares during the period. Institutional investors own 98.84% of the company's stock.

Corpay Stock Down 0.8%

Shares of CPAY stock traded down $2.70 during trading hours on Friday, reaching $317.53. 543,137 shares of the company's stock were exchanged, compared to its average volume of 580,295. The stock's 50 day moving average is $327.66 and its 200-day moving average is $336.06. The company has a market cap of $22.42 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 1.20 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a fifty-two week low of $269.02 and a fifty-two week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $4.55 earnings per share. Analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Oppenheimer assumed coverage on Corpay in a report on Monday, April 28th. They issued a "market perform" rating for the company. UBS Group lowered their target price on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday, June 10th. Morgan Stanley lowered their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Finally, 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 report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy 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 $396.33.

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.