Swedbank AB Boosts Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Swedbank AB raised its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 46.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 186,117 shares of the company's stock after purchasing an additional 58,900 shares during the period. Swedbank AB owned 0.26% of Corpay worth $58,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. bought a new stake in shares of Corpay during the 1st quarter valued at $2,431,089,000. JPMorgan Chase & Co. bought a new stake in Corpay during the first quarter valued at about $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Corpay in the first quarter valued at about $1,355,377,000. Boston Partners bought a new position in shares of Corpay in the first quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP bought a new position in shares of Corpay in the first quarter worth about $553,279,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Trading Up 0.7 %

CPAY traded up $2.38 during trading on Wednesday, reaching $344.92. The company had a trading volume of 505,536 shares, compared to its average volume of 463,555. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The business has a 50 day simple moving average of $308.24 and a 200-day simple moving average of $291.36. The stock has a market cap of $24.24 billion, a P/E ratio of 25.67, a PEG ratio of 1.33 and a beta of 1.22. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $348.28.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share 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 business had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same quarter in the prior year, the firm posted $3.85 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Corpay, Inc. will post 17.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CPAY shares. BMO Capital Markets boosted their price target on Corpay from $350.00 to $390.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. Barclays lifted their price objective on shares of Corpay from $330.00 to $385.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Raymond James dropped their target price on shares of Corpay from $330.00 to $311.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group lifted their price target on shares of Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Wolfe Research raised shares of Corpay from an "underperform" rating to a "peer perform" rating in a report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $350.42.

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.