Skandinaviska Enskilda Banken AB publ Has $5.92 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Key Points

• Skandinaviska Enskilda Banken AB purchased an additional 3,000 shares of Corpay, Inc., increasing its total holdings by 21.5% during the first quarter, bringing its total to 16,986 shares valued at approximately $5.92 million.
• Analysts have recently revised their price targets for Corpay, with Wells Fargo lowering it from $375 to $339 while Wall Street Zen upgraded it from a "hold" to a "buy" rating; the consensus rating for the stock remains "Moderate Buy."
• Corpay reported $4.51 earnings per share for its latest quarter, slightly exceeding expectations, with revenues of $1.01 billion, a 7.5% increase compared to the previous year.

Skandinaviska Enskilda Banken AB publ raised its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 21.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,986 shares of the company's stock after purchasing an additional 3,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Corpay were worth $5,923,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of Corpay by 163.7% in the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock worth $570,801,000 after buying an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after purchasing an additional 1,000,699 shares during the period. Norges Bank bought a new position in shares of Corpay in the fourth quarter worth about $241,739,000. GAMMA Investing LLC grew its position in Corpay by 38,235.3% during the first quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock worth $195,177,000 after buying an additional 558,236 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Corpay by 4,811.9% during the first quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock worth $194,326,000 after buying an additional 545,907 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CPAY has been the topic of several recent analyst reports. UBS Group reduced their target price on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a research report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Barclays dropped their price objective on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird set a $440.00 price objective on shares of Corpay in a research report on Tuesday, June 10th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $401.07.

Corpay Price Performance

Shares of NYSE CPAY traded down $3.89 during midday trading on Thursday, reaching $325.28. 140,503 shares of the company were exchanged, compared to its average volume of 483,758. The stock's 50-day moving average price is $330.98 and its 200-day moving average price is $341.05. The stock has a market cap of $22.93 billion, a P/E ratio of 22.83, a PEG ratio of 1.26 and a beta of 0.95. Corpay, Inc. has a one year low of $265.06 and a one year high of $400.81. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping analysts' consensus estimates of $4.50 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Corpay had a net margin of 25.15% and a return on equity of 41.61%. Corpay's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.10 earnings per share. On average, sell-side analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.