Corpay, Inc. $CPAY Shares Bought by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec raised its stake in Corpay, Inc. (NYSE:CPAY) by 24.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,334 shares of the company’s stock after acquiring an additional 10,533 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.08% of Corpay worth $18,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC boosted its stake in Corpay by 6.2% in the first quarter. Cerity Partners LLC now owns 33,385 shares of the company’s stock valued at $11,642,000 after acquiring an additional 1,942 shares during the period. DAVENPORT & Co LLC acquired a new stake in shares of Corpay in the first quarter valued at approximately $213,000. GAMMA Investing LLC increased its stake in shares of Corpay by 9.9% in the first quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock valued at $560,000 after purchasing an additional 145 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Corpay by 9.2% in the first quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company’s stock valued at $1,016,000 after purchasing an additional 246 shares during the period. Finally, Park Avenue Securities LLC increased its stake in shares of Corpay by 15.2% in the first quarter. Park Avenue Securities LLC now owns 1,898 shares of the company’s stock valued at $662,000 after purchasing an additional 250 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPAY has been the topic of several analyst reports. UBS Group dropped their price target on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Corpay from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the company an “outperform” rating in a research note on Thursday, August 7th. Robert W. Baird set a $440.00 price target on shares of Corpay in a research note on Tuesday, June 10th. Finally, Morgan Stanley reduced their price target on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $399.43.

Corpay Stock Performance

CPAY opened at $325.54 on Thursday. The company has a market capitalization of $22.99 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. Corpay, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81. The business has a 50 day moving average price of $325.37 and a two-hundred day moving average price of $333.02.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share 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 the consensus estimate of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm’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 firm posted $4.55 earnings per share. Research analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Corpay Company 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.