Corpay, Inc. (NYSE:CPAY) Stock Holdings Lifted by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 60.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,905 shares of the company's stock after acquiring an additional 2,610 shares during the period. Clearbridge Investments LLC's holdings in Corpay were worth $1,840,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in Corpay during the 1st quarter valued at $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in Corpay during the first quarter valued at approximately $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Corpay during the 1st quarter valued at about $1,355,377,000. Boston Partners bought a new position in shares of Corpay in the first quarter worth approximately $553,667,000. Finally, Sustainable Growth Advisers LP bought a new position in Corpay in the 1st quarter worth approximately $553,279,000. 98.84% of the stock is owned by institutional investors.

Corpay Stock Performance

Shares of Corpay stock traded up $12.05 during trading hours on Friday, reaching $331.00. 1,216,307 shares of the company were exchanged, compared to its average volume of 465,439. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $331.10. The firm has a fifty day moving average of $300.62. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $23.26 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.24 and a beta of 1.22.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. The firm's revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.85 earnings per share. Research analysts expect that Corpay, Inc. will post 17.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of analyst reports. Wolfe Research upgraded Corpay from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, September 3rd. Bank of America decreased their price objective on shares of Corpay from $331.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 20th. Royal Bank of Canada reissued a "sector perform" rating and set a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. Finally, Raymond James dropped their price objective on Corpay from $330.00 to $311.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $337.92.

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.