Vanguard Group Inc. Purchases 119,987 Shares of Corpay, Inc. (NYSE:CPAY)

Key Points

• Vanguard Group Inc. increased its shareholding in Corpay, Inc. by 1.5%, now owning 11.21% of the company, worth approximately $2.75 billion.
• Several institutional investors, including Colonial Trust Co SC and Larson Financial Group LLC, have also significantly raised their positions in Corpay, contributing to 98.84% of the stock being owned by institutional investors.
• Corpay reported an EPS of $5.13 for the last quarter, surpassing analysts' estimates, with quarterly revenue increasing by 12.9% year-over-year, totaling $1.10 billion.

Vanguard Group Inc. lifted its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,872,786 shares of the company's stock after purchasing an additional 119,987 shares during the quarter. Vanguard Group Inc. owned 11.21% of Corpay worth $2,745,398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPAY. Colonial Trust Co SC boosted its position in shares of Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after purchasing an additional 53 shares in the last quarter. Rakuten Securities Inc. bought a new position in shares of Corpay during the first quarter worth $45,000. Larson Financial Group LLC boosted 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 worth $60,000 after purchasing an additional 130 shares in the last quarter. Continuum Advisory LLC boosted 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 worth $62,000 after purchasing an additional 42 shares in the last quarter. Finally, Whipplewood Advisors LLC boosted 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 worth $65,000 after purchasing an additional 162 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective on the stock. UBS Group dropped their price objective on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday. Robert W. Baird set a $440.00 price objective on shares of Corpay in a report on Tuesday, June 10th. Finally, Wells Fargo & Company dropped their price objective 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. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.93.

Corpay Stock Performance

Shares of CPAY opened at $301.73 on Friday. The firm has a 50-day moving average of $329.21 and a 200-day moving average of $338.59. Corpay, Inc. has a one year low of $269.02 and a one year high of $400.81. The company has a market cap of $21.27 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.16 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 1.10.

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

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.

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