Corpay, Inc. (NYSE:CPAY) Position Raised by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 206,313 shares of the company's stock after purchasing an additional 10,817 shares during the period. Victory Capital Management Inc. owned about 0.29% of Corpay worth $71,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CPAY. Vanguard Group Inc. increased its position in shares of Corpay by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock worth $2,623,702,000 after purchasing an additional 120,688 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after purchasing an additional 1,000,699 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Corpay by 1.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after buying an additional 20,937 shares during the last quarter. Geode Capital Management LLC raised its stake in Corpay by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company's stock valued at $584,962,000 after buying an additional 54,894 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Corpay by 163.7% during the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock valued at $570,801,000 after buying an additional 1,047,080 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Raymond James Financial reiterated an "outperform" rating and issued a $414.00 price target (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Wall Street Zen lowered shares of Corpay from a "buy" rating to a "hold" rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a report on Thursday. They set a "buy" rating and a $390.00 target price on the stock. UBS Group decreased their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. 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 research note on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $401.07.

Corpay Stock Performance

Shares of NYSE CPAY traded down $3.00 during midday trading on Friday, hitting $332.10. 431,368 shares of the company's stock were exchanged, compared to its average volume of 474,547. Corpay, Inc. has a twelve month low of $265.06 and a twelve month high of $400.81. The firm has a market cap of $23.41 billion, a P/E ratio of 18.35, a PEG ratio of 1.41 and a beta of 0.95. The stock's 50 day moving average price is $332.79 and its 200-day moving average price is $341.79. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.10 and a quick ratio of 1.10.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating the consensus estimate of $4.50 by $0.01. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $4.10 EPS. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts anticipate 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.