Mirae Asset Global Investments Co. Ltd. Raises Stake in Corpay, Inc. $CPAY

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 10.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,261 shares of the company’s stock after purchasing an additional 780 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Corpay were worth $2,741,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new position in Corpay during the 1st quarter worth $41,000. Rakuten Securities Inc. acquired a new position in shares of Corpay in the first quarter valued at approximately $45,000. Larson Financial Group LLC increased its holdings in shares of Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock valued at $60,000 after purchasing an additional 130 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Corpay by 20.5% in the first quarter. Advisors Asset Management Inc. now owns 264 shares of the company’s stock valued at $92,000 after purchasing an additional 45 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Corpay by 16.7% in the first quarter. Signaturefd LLC now owns 300 shares of the company’s stock valued at $105,000 after purchasing an additional 43 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Price Performance

Shares of NYSE:CPAY opened at $288.80 on Wednesday. The business’s 50 day simple moving average is $310.22 and its 200-day simple moving average is $322.29. The firm has a market capitalization of $20.39 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.09 and a beta of 0.97. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping the consensus estimate of $5.11 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.55 EPS. As a group, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on CPAY. Robert W. Baird set a $440.00 price target on shares of Corpay in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a report on Thursday, July 17th. They set a “buy” rating and a $390.00 price target for the company. UBS Group cut their price target on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Wall Street Zen raised shares of Corpay from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corpay in a report on Saturday, September 27th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $396.21.

Corpay 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.