Vanguard Group Inc. Has $2.75 Billion Stock Position in 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. increased its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,872,786 shares of the company's stock after buying an additional 119,987 shares during the period. Vanguard Group Inc. owned 11.21% of Corpay worth $2,745,398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Meeder Advisory Services Inc. lifted its position in Corpay by 5.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock valued at $236,000 after purchasing an additional 32 shares during the period. Fulton Bank N.A. increased its stake in shares of Corpay by 2.1% in the 1st quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock valued at $581,000 after acquiring an additional 34 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Corpay by 3.2% in the 1st quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock valued at $387,000 after acquiring an additional 34 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Corpay by 29.6% in the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after acquiring an additional 42 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Corpay by 1.6% in the 1st quarter. Fifth Third Bancorp now owns 2,691 shares of the company's stock valued at $938,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Up 1.2%

Shares of NYSE CPAY traded up $3.87 during trading hours on Wednesday, hitting $313.24. The company had a trading volume of 170,619 shares, compared to its average volume of 495,992. The firm's 50 day moving average is $328.50 and its 200-day moving average is $337.35. Corpay, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81. The stock has a market capitalization of $22.12 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 1.16 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly 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. 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 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. On average, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company lowered their price target on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Robert W. Baird set a $440.00 target price on Corpay in a research note on Tuesday, June 10th. Wall Street Zen raised Corpay from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Raymond James Financial set a $392.00 target price on Corpay and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Morgan Stanley set a $356.00 price objective on shares of Corpay and gave the company an "equal weight" rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Corpay currently has an average rating of "Moderate Buy" and an average price target of $396.33.

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.