Royal Bank of Canada Buys 1,716 Shares of Corpay, Inc. $CPAY

Key Points

• The Royal Bank of Canada increased its stake in Corpay, Inc. by 1.6%, owning approximately 0.16% of the company valued at $38.33 million.
• Several institutional investors have also boosted their holdings, with Wellington Management Group leading the increase at 30.7% in the first quarter.
• The consensus rating for Corpay is a "Moderate Buy" with an average price target of $399.43, following positive earnings results that surpassed analysts' expectations.

Royal Bank of Canada lifted its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,933 shares of the company's stock after acquiring an additional 1,716 shares during the period. Royal Bank of Canada owned approximately 0.16% of Corpay worth $38,336,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Colonial Trust Co SC boosted its holdings in shares of Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after acquiring an additional 53 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Corpay in the first quarter worth $41,000. Rakuten Securities Inc. bought a new position in shares of Corpay in the first quarter worth $45,000. Larson Financial Group LLC boosted its holdings in shares of Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after acquiring an additional 130 shares during the period. Finally, Continuum Advisory LLC boosted its holdings in shares of Corpay by 29.6% in the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after acquiring an additional 42 shares during the period. 98.84% of the stock is owned by institutional investors.

Corpay Price Performance

Shares of CPAY traded down $8.29 during midday trading on Wednesday, reaching $304.84. The stock had a trading volume of 396,267 shares, compared to its average volume of 487,482. 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 12-month low of $269.02 and a 12-month high of $400.81. The company's 50-day moving average is $324.16 and its 200 day moving average is $329.38. The company has a market capitalization of $21.53 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00.

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 analysts' consensus estimates of $5.11 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The firm's revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.55 EPS. On average, equities analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on CPAY. Wall Street Zen raised Corpay from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the stock an "outperform" rating in a report on Thursday, August 7th. Robert W. Baird set a $440.00 price target on shares of Corpay in a report on Tuesday, June 10th. Morgan Stanley decreased their price target on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Finally, UBS Group decreased their price target on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $399.43.

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.