Vantage Investment Partners LLC Increases Stock Position in Corpay, Inc. $CPAY

Key Points

• Vantage Investment Partners LLC increased its stake in Corpay, Inc. by 28.4%, now holding 119,272 shares valued at approximately $39.58 million.
• Corpay received new ratings from analysts, with ten recommending a "Buy" rating and an average price target of $396.21.
• The stock is currently trading at about $288.61, with a market cap of $20.38 billion, and reported earnings of $5.13 per share for its most recent quarter.

Vantage Investment Partners LLC raised its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 28.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,272 shares of the company's stock after buying an additional 26,400 shares during the period. Corpay makes up about 2.9% of Vantage Investment Partners LLC's holdings, making the stock its 15th biggest holding. Vantage Investment Partners LLC owned approximately 0.17% of Corpay worth $39,577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CPAY. Ameritas Advisory Services LLC purchased a new position in Corpay in the second quarter valued at about $37,000. Vanderbilt University purchased a new position in shares of Corpay during the 2nd quarter valued at approximately $1,614,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Corpay by 10.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the company's stock worth $2,741,000 after buying an additional 780 shares in the last quarter. Truist Financial Corp increased its stake in shares of Corpay by 1.5% in the second quarter. Truist Financial Corp now owns 7,982 shares of the company's stock worth $2,649,000 after buying an additional 116 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in Corpay by 3.8% in the second quarter. HB Wealth Management LLC now owns 1,601 shares of the company's stock valued at $531,000 after acquiring an additional 58 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CPAY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective for the company. Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a research note on Sunday, September 28th. Morgan Stanley cut their price objective on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Keefe, Bruyette & Woods decreased their target price on Corpay from $445.00 to $400.00 and set an "outperform" rating for the company in a research report on Wednesday, October 1st. Finally, UBS Group dropped their price target on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $396.21.

Corpay Stock Performance

CPAY stock opened at $288.61 on Monday. 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 $20.38 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.09 and a beta of 0.97. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The stock's fifty day moving average is $311.99 and its two-hundred day moving average is $322.93.

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