Sumitomo Mitsui DS Asset Management Company Ltd Purchases 71 Shares of Corpay, Inc. (NYSE:CPAY)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Corpay, Inc. (NYSE:CPAY) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,754 shares of the company’s stock after purchasing an additional 71 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Corpay were worth $2,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPAY. Los Angeles Capital Management LLC bought a new stake in shares of Corpay during the 1st quarter valued at $33,840,000. GAMMA Investing LLC purchased a new position in Corpay during the 1st quarter valued at about $149,000. Pensionfund Sabic bought a new stake in Corpay during the first quarter worth about $1,327,000. Beese Fulmer Investment Management Inc. purchased a new stake in Corpay in the first quarter worth about $1,398,000. Finally, Massmutual Trust Co. FSB ADV bought a new position in shares of Corpay during the first quarter valued at approximately $61,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Performance

CPAY opened at $315.55 on Friday. The company’s 50-day moving average is $284.84. Corpay, Inc. has a 52-week low of $220.39 and a 52-week high of $319.94. The company has a market cap of $22.17 billion, a PE ratio of 23.48, a P/E/G ratio of 1.09 and a beta of 1.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The company 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 earned $3.85 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts forecast that Corpay, Inc. will post 17.82 EPS for the current fiscal year.

Analyst Ratings Changes

CPAY has been the topic of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. Raymond James dropped their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America reduced their price target on Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Jefferies Financial Group upped their price target on shares of Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company initiated coverage on shares of Corpay in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $332.50.

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.