Royal Bank of Canada Buys 51,509 Shares of Corpay, Inc. (NYSE:CPAY)

Royal Bank of Canada increased its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 90.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,217 shares of the company's stock after buying an additional 51,509 shares during the period. Royal Bank of Canada owned 0.16% of Corpay worth $36,623,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CPAY. JPMorgan Chase & Co. increased its stake in shares of Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock valued at $1,653,659,000 after purchasing an additional 120,578 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Corpay by 13.4% during the fourth quarter. Park Avenue Securities LLC now owns 1,648 shares of the company's stock valued at $558,000 after purchasing an additional 195 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Corpay during the fourth quarter valued at approximately $530,000. Ameritas Advisory Services LLC bought a new position in shares of Corpay during the fourth quarter valued at approximately $533,000. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Corpay by 70.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock valued at $1,689,000 after purchasing an additional 2,059 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Corpay Trading Down 0.6%

Shares of CPAY stock opened at $326.19 on Friday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The firm's 50 day moving average is $328.10 and its 200 day moving average is $350.38. The stock has a market capitalization of $22.99 billion, a P/E ratio of 23.33, a P/E/G ratio of 1.32 and a beta of 0.98.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter last year, the company posted $4.10 earnings per share. The firm's quarterly revenue was up 7.5% on a year-over-year basis. Research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analysts Set New Price Targets

CPAY has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company decreased their target price on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Raymond James reiterated an "outperform" rating and set a $414.00 price target (down previously from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Royal Bank of Canada increased their price target on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Corpay currently has a consensus rating of "Moderate Buy" and an average price target of $395.07.

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.

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