Corpay, Inc. $CPAY Shares Acquired by Taikang Asset Management Hong Kong Co Ltd

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its stake in Corpay, Inc. by 330.7% in the 1st quarter, now holding 24,119 shares worth approximately $8.41 million.
• Corpay's stock currently holds an average rating of "Moderate Buy" from analysts, with an average target price of $399.43.
• In the latest quarterly earnings, Corpay reported $5.13 EPS and revenue of $1.10 billion, exceeding analysts' expectations.

Taikang Asset Management Hong Kong Co Ltd increased its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 330.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,119 shares of the company's stock after purchasing an additional 18,519 shares during the quarter. Corpay makes up approximately 1.1% of Taikang Asset Management Hong Kong Co Ltd's holdings, making the stock its 20th largest holding. Taikang Asset Management Hong Kong Co Ltd's holdings in Corpay were worth $8,411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPAY. Marshall Wace LLP purchased a new stake in Corpay during the 4th quarter worth about $1,583,000. MML Investors Services LLC increased its position in Corpay by 15.4% during the 4th quarter. MML Investors Services LLC now owns 4,244 shares of the company's stock worth $1,436,000 after purchasing an additional 566 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in Corpay during the 4th quarter worth about $514,000. Coldstream Capital Management Inc. increased its position in Corpay by 8.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,263 shares of the company's stock worth $427,000 after purchasing an additional 97 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Corpay during the 4th quarter worth about $4,705,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

NYSE:CPAY traded up $0.47 during midday trading on Friday, reaching $325.64. 219,169 shares of the company traded hands, compared to its average volume of 490,458. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The firm has a market capitalization of $22.99 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The company has a fifty day moving average price of $325.58 and a 200 day moving average price of $332.68.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target on the stock. Raymond James Financial set a $392.00 price objective on Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Morgan Stanley dropped their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Finally, UBS Group dropped their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. 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 currently has an average rating of "Moderate Buy" and an average target price 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.