United Services Automobile Association Acquires Shares of 1,666 Corpay, Inc. $CPAY

Key Points

• United Services Automobile Association made a new investment of approximately $578,000 in Corpay, Inc. by acquiring 1,666 shares during the first quarter.
• Corpay's stock has a market cap of $22.09 billion and reported a 12.9% year-over-year revenue increase with a quarterly revenue of $1.10 billion.
• Analysts have a consensus rating of "Moderate Buy" for Corpay, with a consensus price target of $399.43.

United Services Automobile Association bought a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,666 shares of the company's stock, valued at approximately $578,000.

Other large investors also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd raised its position in shares of Corpay by 4.0% during the first quarter. UniSuper Management Pty Ltd now owns 7,733 shares of the company's stock valued at $2,697,000 after buying an additional 300 shares during the last quarter. Select Equity Group L.P. increased its holdings in Corpay by 1,302.3% in the 1st quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company's stock valued at $425,054,000 after acquiring an additional 1,131,975 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in Corpay by 1,048.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 91,121 shares of the company's stock worth $31,776,000 after purchasing an additional 83,186 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Corpay by 54.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,590 shares of the company's stock worth $3,693,000 after purchasing an additional 3,739 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Corpay during the 1st quarter valued at about $207,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Trading Down 2.0%

Shares of CPAY stock traded down $6.19 during trading hours on Friday, reaching $307.41. 350,339 shares of the stock were exchanged, compared to its average volume of 365,158. The firm has a market capitalization of $21.71 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81. The company's 50-day moving average price is $322.35 and its 200-day moving average price is $328.44. 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 (NYSE:CPAY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.55 earnings per share. As a group, equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CPAY. Raymond James Financial set a $392.00 target price on Corpay and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Robert W. Baird set a $440.00 price objective on Corpay in a report on Tuesday, June 10th. Morgan Stanley lowered their target price 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $399.43.

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.