Corpay, Inc. $CPAY Stock Holdings Boosted by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Corpay, Inc. by 22.0%, holding approximately $35.94 million worth of shares by the end of the first quarter.
• Corpay reported earnings of $5.13 per share, exceeding analysts' expectations, with quarterly revenue of $1.10 billion, marking a growth of 12.9% compared to the previous year.
• Analysts have mixed ratings on Corpay, with a consensus of eleven buy ratings and an average price target of $396.33.

Russell Investments Group Ltd. raised its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 22.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,082 shares of the company's stock after purchasing an additional 18,581 shares during the period. Russell Investments Group Ltd. owned about 0.15% of Corpay worth $35,938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CPAY. Cerity Partners LLC lifted its stake in shares of Corpay by 6.2% during the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock worth $11,642,000 after purchasing an additional 1,942 shares during the period. DAVENPORT & Co LLC acquired a new stake in Corpay in the 1st quarter worth about $213,000. GAMMA Investing LLC grew its holdings in Corpay by 9.9% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock valued at $560,000 after buying an additional 145 shares during the period. Janney Montgomery Scott LLC grew its holdings in Corpay by 9.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock valued at $1,016,000 after buying an additional 246 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in shares of Corpay by 15.2% during the 1st quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock worth $662,000 after acquiring an additional 250 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several research analyst reports. Morgan Stanley dropped their price target on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Wall Street Zen lowered Corpay from a "buy" rating to a "hold" rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a research report on Thursday, July 17th. They set a "buy" rating and a $390.00 target price on the stock. UBS Group lowered their price target on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, Raymond James Financial set a $392.00 price target on shares of Corpay and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Corpay has an average rating of "Moderate Buy" and an average price target of $396.33.

Corpay Stock Performance

Shares of CPAY traded down $0.67 during mid-day trading on Monday, hitting $316.99. The stock had a trading volume of 233,173 shares, compared to its average volume of 497,890. Corpay, Inc. has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The company has a market cap of $22.38 billion, a PE ratio of 21.54, a PEG ratio of 1.20 and a beta of 0.96. The company's fifty day simple moving average is $327.66 and its two-hundred day simple moving average is $335.70.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.55 earnings per share. On average, equities analysts expect that Corpay, Inc. will post 19.76 earnings per share 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.