Advisors Asset Management Inc. Acquires 45 Shares of Corpay, Inc. $CPAY

Advisors Asset Management Inc. boosted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 20.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 264 shares of the company’s stock after purchasing an additional 45 shares during the quarter. Advisors Asset Management Inc.’s holdings in Corpay were worth $92,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Corpay by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock valued at $2,745,398,000 after purchasing an additional 119,987 shares during the period. JPMorgan Chase & Co. raised its stake in Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after purchasing an additional 472,147 shares during the period. Boston Partners raised its stake in Corpay by 5.8% during the 1st quarter. Boston Partners now owns 2,163,940 shares of the company’s stock valued at $751,371,000 after purchasing an additional 118,542 shares during the period. Invesco Ltd. raised its stake in Corpay by 12.3% during the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock valued at $660,731,000 after purchasing an additional 208,067 shares during the period. Finally, Wellington Management Group LLP raised its stake in Corpay by 30.7% during the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock valued at $444,639,000 after purchasing an additional 299,452 shares during the period. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CPAY shares. Morgan Stanley decreased their target price 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. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a report on Thursday, July 17th. They set a “buy” rating and a $390.00 price target for the company. Raymond James Financial set a $392.00 price target on Corpay and gave the company an “outperform” rating in a report on Thursday, August 7th. Robert W. Baird set a $440.00 price target on Corpay in a report on Tuesday, June 10th. Finally, UBS Group cut their price target on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.43.

Corpay Price Performance

Shares of Corpay stock opened at $307.41 on Friday. The stock has a market cap of $21.71 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. 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 has a 50 day moving average price of $322.35 and a 200-day moving average price of $328.44. Corpay, Inc. has a one year low of $269.02 and a one year high of $400.81.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.55 EPS. Equities analysts expect 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.