7,650 Shares in Corpay, Inc. (NYSE:CPAY) Purchased by Jennison Associates LLC

Jennison Associates LLC acquired a new stake in shares of Corpay, Inc. (NYSE:CPAYFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,650 shares of the company’s stock, valued at approximately $2,360,000.

Other large investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new stake in shares of Corpay in the 1st quarter valued at approximately $2,227,000. Nordea Investment Management AB bought a new stake in Corpay during the first quarter valued at $1,674,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Corpay during the first quarter worth $629,000. Hollencrest Capital Management bought a new position in shares of Corpay in the 1st quarter worth about $46,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Corpay in the 1st quarter valued at about $3,240,000. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

CPAY has been the topic of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research note on Friday, June 21st. Wells Fargo & Company assumed coverage on Corpay in a report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price target on the stock. Wolfe Research downgraded Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 price objective for the company. in a research note on Friday, May 17th. Jefferies Financial Group raised their target price on Corpay from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Robert W. Baird upped their price target on shares of Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $335.20.

Get Our Latest Analysis on CPAY

Corpay Stock Performance

Shares of CPAY opened at $269.47 on Wednesday. Corpay, Inc. has a one year low of $220.39 and a one year high of $319.94. The company’s fifty day simple moving average is $271.16. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.04 and a beta of 1.20.

Corpay (NYSE:CPAYGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. The firm had revenue of $935.25 million for the quarter, compared to analysts’ expectations of $936.25 million. Corpay had a net margin of 26.29% and a return on equity of 36.97%. Analysts forecast that Corpay, Inc. will post 17.84 EPS for the current fiscal year.

Corpay Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Corpay (NYSE:CPAY)

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