Mufg Securities Americas Inc. Buys New Stake in Corpay, Inc. (NYSE:CPAY)

Mufg Securities Americas Inc. purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,029 shares of the company’s stock, valued at approximately $348,000.

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. raised its position in Corpay by 163.7% in the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock worth $570,801,000 after purchasing an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Corpay by 20.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock valued at $1,976,651,000 after buying an additional 1,000,699 shares during the last quarter. Norges Bank purchased a new stake in shares of Corpay in the fourth quarter worth approximately $241,739,000. Raymond James Financial Inc. bought a new stake in shares of Corpay during the 4th quarter worth approximately $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. bought a new stake in shares of Corpay during the 4th quarter worth approximately $116,179,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 0.4%

Shares of NYSE CPAY opened at $348.64 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $24.49 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. The stock’s fifty day simple moving average is $328.21 and its two-hundred day simple moving average is $350.23. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business posted $4.10 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on CPAY. Wells Fargo & Company reduced their target price on Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada upped their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Morgan Stanley lifted their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Oppenheimer initiated coverage on shares of Corpay in a research report on Monday, April 28th. They set a “market perform” rating on the stock. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and an average price target of $395.07.

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.