Toronto Dominion Bank Grows Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Toronto Dominion Bank lifted its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 60.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,808 shares of the company's stock after purchasing an additional 13,854 shares during the quarter. Toronto Dominion Bank owned 0.05% of Corpay worth $12,457,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Corpay by 163.7% during the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock valued at $570,801,000 after purchasing an additional 1,047,080 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Corpay by 20.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after buying an additional 1,000,699 shares during the period. Norges Bank bought a new position in shares of Corpay during the fourth quarter valued at about $241,739,000. Raymond James Financial Inc. bought a new position in shares of Corpay during the fourth quarter valued at about $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of Corpay in the fourth quarter worth about $116,179,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Trading Down 0.5%

Shares of NYSE:CPAY traded down $1.63 on Monday, hitting $324.50. The company had a trading volume of 333,868 shares, compared to its average volume of 479,727. The firm's 50-day simple moving average is $327.64 and its two-hundred day simple moving average is $350.37. The firm has a market capitalization of $22.87 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 1.32 and a beta of 0.98. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business posted $4.10 earnings per share. Corpay's quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays reduced their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada increased their price objective on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Wells Fargo & Company cut their target price on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Morgan Stanley lifted their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, Raymond James reiterated an "outperform" rating and set a $414.00 price target (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $395.07.

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.