Wellington Management Group LLP Has $444.64 Million Stake in Corpay, Inc. $CPAY

Key Points

• Wellington Management Group LLP increased its stake in Corpay, Inc. by 30.7%, acquiring an additional 299,452 shares, bringing their total ownership to 1,275,059 shares valued at approximately $444.6 million.
• Corpay's recent quarterly earnings surpassed expectations, reporting $5.13 EPS and a revenue of $1.10 billion, up 12.9% from the previous year's quarter.
• Brokerages have varied ratings on Corpay, with analysts giving an average price target of $396.33 and a consensus rating of "Moderate Buy."

Wellington Management Group LLP lifted its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,275,059 shares of the company's stock after buying an additional 299,452 shares during the period. Wellington Management Group LLP owned approximately 1.82% of Corpay worth $444,639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CPAY. Colonial Trust Co SC boosted its stake in shares of Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after buying an additional 53 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Corpay in the first quarter valued at approximately $41,000. Rakuten Securities Inc. bought a new stake in shares of Corpay in the first quarter valued at approximately $45,000. Larson Financial Group LLC boosted its stake in shares of Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after buying an additional 130 shares during the period. Finally, Continuum Advisory LLC boosted its stake in shares of Corpay by 29.6% in the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after buying an additional 42 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CPAY. Raymond James Financial set a $392.00 price target on Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a research report on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective for the company. Morgan Stanley lowered their price objective on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Oppenheimer initiated coverage on shares of Corpay in a research report on Monday, April 28th. They set a "market perform" rating for the company. Finally, Robert W. Baird set a $440.00 price objective on shares of Corpay in a research report on Tuesday, June 10th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $399.43.

Corpay Price Performance

Shares of NYSE:CPAY traded up $13.1330 during trading on Friday, hitting $330.7930. 360,730 shares of the company were exchanged, compared to its average volume of 549,334. The business's 50 day moving average is $325.39 and its 200-day moving average is $333.49. The company has a market capitalization of $23.36 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.26 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, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81.

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, topping the consensus estimate of $5.11 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $4.55 earnings per share. Equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

About Corpay

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.