Resona Asset Management Co. Ltd. Boosts Stock Position in Corpay, Inc. $CPAY

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in Corpay, Inc. by 5.0%, holding 20,803 shares valued at $7,248,000 as of the latest SEC filing.
• Investment from institutional investors is significant, with 98.84% of Corpay's stock now owned by hedge funds, showcasing strong institutional interest in the company.
• Corpay's stock performance has shown growth potential, with analysts rating it as a "Moderate Buy" and a consensus target price of $396.33, indicating bullish sentiment in the market.

Resona Asset Management Co. Ltd. raised its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,803 shares of the company's stock after purchasing an additional 990 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Corpay were worth $7,248,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Federated Hermes Inc. boosted its stake in 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 buying an additional 246 shares in the last quarter. Mariner LLC boosted its stake in shares of Corpay by 11.2% in the 4th 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 in the last quarter. Walleye Capital LLC boosted its holdings in shares of Corpay by 165.5% during the 4th quarter. Walleye Capital LLC now owns 1,114 shares of the company's stock valued at $377,000 after acquiring an additional 2,814 shares in the last quarter. Jump Financial LLC grew its position in Corpay by 203.8% during the 4th quarter. Jump Financial LLC now owns 4,749 shares of the company's stock worth $1,607,000 after acquiring an additional 3,186 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Corpay by 2.4% in the 4th quarter. NewEdge Advisors LLC now owns 2,565 shares of the company's stock worth $868,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Performance

NYSE CPAY traded up $1.55 during trading on Tuesday, hitting $318.05. 110,689 shares of the company's stock traded hands, compared to its average volume of 496,369. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81. The business has a 50 day moving average of $327.14 and a 200-day moving average of $335.26. 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 stock has a market capitalization of $22.46 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.20 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping 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 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 earned $4.55 EPS. The firm's revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Oppenheimer assumed coverage on shares of Corpay in a research report on Monday, April 28th. They set a "market perform" rating on the stock. Morgan Stanley reduced their price target on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. 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 on the stock. Finally, Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a research note on Saturday. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.