Raiffeisen Bank International AG Invests $3.10 Million in Corpay, Inc. (NYSE:CPAY)

Key Points

• Raiffeisen Bank International AG has acquired a new position in Corpay, Inc. (NYSE: CPAY), purchasing 8,939 shares valued at approximately $3,099,000.
• Institutional investors hold 98.84% of Corpay's stock, with significant positions taken by firms like Price T Rowe Associates and Invesco in the previous quarter.
• Analysts have varying outlooks on Corpay, with a consensus rating of "Moderate Buy" and an average price target of $401.07, despite mixed adjustments in price expectations from several brokerages.

Raiffeisen Bank International AG bought a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,939 shares of the company's stock, valued at approximately $3,099,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPAY. LPL Financial LLC boosted its position in Corpay by 19.7% in the 4th quarter. LPL Financial LLC now owns 9,823 shares of the company's stock worth $3,324,000 after purchasing an additional 1,620 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Corpay in the fourth quarter valued at approximately $8,734,000. O Shaughnessy Asset Management LLC grew its stake in Corpay by 25.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,900 shares of the company's stock valued at $981,000 after acquiring an additional 593 shares during the period. Huntington National Bank raised its position in Corpay by 94.7% during the fourth quarter. Huntington National Bank now owns 259 shares of the company's stock worth $88,000 after acquiring an additional 126 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Corpay during the fourth quarter worth about $6,713,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group decreased their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday. Oppenheimer assumed coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Raymond James Financial reduced their target price on Corpay from $414.00 to $392.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a research report on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Corpay presently has an average rating of "Moderate Buy" and an average target price of $397.93.

Corpay Stock Down 0.9%

Shares of NYSE:CPAY traded down $2.77 on Friday, hitting $301.73. 404,392 shares of the company's stock were exchanged, compared to its average volume of 496,229. The firm's 50-day moving average is $329.68 and its 200 day moving average is $339.10. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $21.27 billion, a PE ratio of 20.50, a P/E/G ratio of 1.20 and a beta of 0.96. Corpay, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly 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 firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 41.29%. Corpay's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.55 earnings per share. Sell-side analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

About Corpay

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.