Corpay, Inc. (NYSE:CPAY) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 44.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,457 shares of the company's stock after acquiring an additional 10,219 shares during the period. DekaBank Deutsche Girozentrale's holdings in Corpay were worth $10,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Albion Financial Group UT purchased a new stake in shares of Corpay in the third quarter worth $27,000. Headlands Technologies LLC purchased a new stake in Corpay in the 1st quarter worth $31,000. LGT Financial Advisors LLC bought a new stake in Corpay during the second quarter valued at about $33,000. RFP Financial Group LLC purchased a new position in shares of Corpay in the first quarter valued at about $35,000. Finally, Blue Trust Inc. lifted its position in shares of Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company's stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Trading Down 0.7 %

CPAY traded down $2.16 on Thursday, reaching $329.72. 547,628 shares of the company traded hands, compared to its average volume of 468,182. 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 company has a market cap of $23.17 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The firm has a fifty day simple moving average of $320.90 and a two-hundred day simple moving average of $294.39. Corpay, Inc. has a one year low of $221.37 and a one year high of $355.47.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million during the quarter, compared to analysts' expectations of $973.84 million. During the same period in the prior year, the business earned $3.85 EPS. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Corpay, Inc. will post 17.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Corpay from $350.00 to $390.00 and gave the company an "outperform" rating in a research note on Thursday, October 3rd. Bank of America boosted their target price on Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Wells Fargo & Company increased their target price on Corpay from $285.00 to $320.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Barclays upped their price target on shares of Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Morgan Stanley upped their price objective on Corpay from $275.00 to $325.00 and gave the company an "equal weight" rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Corpay has an average rating of "Moderate Buy" and an average target price of $353.46.

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.