Lazard Asset Management LLC Boosts Stock Position in Corpay, Inc. (NYSE:CPAY)

Lazard Asset Management LLC boosted its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,233 shares of the company's stock after purchasing an additional 30,880 shares during the quarter. Lazard Asset Management LLC owned about 0.38% of Corpay worth $89,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Corpay by 17.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock valued at $8,067,000 after purchasing an additional 3,504 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Corpay by 70.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock valued at $1,689,000 after buying an additional 2,059 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in Corpay in the fourth quarter worth about $3,667,000. Nisa Investment Advisors LLC grew its stake in shares of Corpay by 68.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company's stock worth $1,342,000 after acquiring an additional 1,611 shares during the last quarter. Finally, Journey Strategic Wealth LLC purchased a new stake in shares of Corpay during the fourth quarter worth about $499,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

Corpay stock traded up $1.43 during mid-day trading on Friday, hitting $348.64. The company had a trading volume of 436,922 shares, compared to its average volume of 481,622. The company has a market capitalization of $24.49 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 1.32 and a beta of 0.98. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The company's fifty day moving average is $327.74 and its 200-day moving average is $350.11. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $4.10 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. Equities research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. 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. Raymond James restated an "outperform" rating and issued a $414.00 target price (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Oppenheimer began coverage on Corpay in a research note on Monday, April 28th. They set a "market perform" rating on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $395.07.

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.