Swedbank AB Buys 3,100 Shares of Corpay, Inc. $CPAY

Key Points

• Swedbank AB increased its stake in Corpay, Inc. by 1.1%, owning 272,817 shares valued at approximately $95.14 million as of the end of the first quarter.
• Corpay's stock price has seen a 2.0% decline recently, with a current price of $307.41 and a reported market cap of $21.71 billion.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Corpay, with an average target price set at $399.43.

Swedbank AB grew its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,817 shares of the company's stock after purchasing an additional 3,100 shares during the period. Swedbank AB owned approximately 0.39% of Corpay worth $95,137,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new position in shares of Corpay during the first quarter valued at about $41,000. Rakuten Securities Inc. purchased a new position in shares of Corpay during the first quarter valued at about $45,000. Larson Financial Group LLC grew its position in shares of Corpay by 309.5% during the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after purchasing an additional 130 shares in the last quarter. Continuum Advisory LLC grew its position in shares of Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after purchasing an additional 42 shares in the last quarter. Finally, Whipplewood Advisors LLC grew its position in shares of Corpay by 648.0% during the first quarter. Whipplewood Advisors LLC now owns 187 shares of the company's stock valued at $65,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Trading Down 1.5%

Shares of Corpay stock traded down $4.70 on Thursday, hitting $305.94. 228,381 shares of the company traded hands, compared to its average volume of 482,619. The stock's 50 day moving average price is $320.87 and its 200-day moving average price is $327.20. 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 52 week low of $269.02 and a 52 week high of $400.81. The company has a market cap of $21.60 billion, a PE ratio of 20.86, a PEG ratio of 1.16 and a beta of 1.00.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm posted $4.55 earnings per share. The company's revenue was up 12.9% on a year-over-year basis. Equities research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CPAY shares. Morgan Stanley cut their price objective on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target for the company. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $399.43.

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.