MBB Public Markets I LLC Invests $322,000 in Corpay, Inc. $CPAY

MBB Public Markets I LLC acquired a new position in Corpay, Inc. (NYSE:CPAY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 922 shares of the company’s stock, valued at approximately $322,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. United Services Automobile Association acquired a new position in Corpay in the first quarter worth approximately $578,000. UniSuper Management Pty Ltd increased its holdings in Corpay by 4.0% in the first quarter. UniSuper Management Pty Ltd now owns 7,733 shares of the company’s stock worth $2,697,000 after buying an additional 300 shares during the last quarter. Select Equity Group L.P. increased its holdings in Corpay by 1,302.3% in the first quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company’s stock worth $425,054,000 after buying an additional 1,131,975 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Corpay by 1,048.3% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 91,121 shares of the company’s stock worth $31,776,000 after buying an additional 83,186 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Corpay by 54.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,590 shares of the company’s stock worth $3,693,000 after buying an additional 3,739 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of research reports. Morgan Stanley dropped their price objective on Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Wall Street Zen raised Corpay from a “hold” rating to a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 target price for the company. Finally, UBS Group decreased their target price on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.43.

Corpay Stock Down 1.6%

Shares of CPAY stock opened at $311.60 on Tuesday. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The firm has a market cap of $22.00 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The stock has a 50 day moving average of $324.68 and a 200-day moving average of $329.50.

Corpay (NYSE:CPAY) last announced its quarterly earnings data 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 business had revenue of $1.10 billion for 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%. Corpay’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $4.55 earnings per share. On average, equities analysts predict that Corpay, Inc. will post 19.76 EPS 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.