Corpay, Inc. (NYSE:CPAY) Shares Acquired by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. raised its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,177,297 shares of the company’s stock after acquiring an additional 12,338 shares during the period. Corpay makes up about 1.5% of Mawer Investment Management Ltd.’s portfolio, making the stock its 21st biggest position. Mawer Investment Management Ltd. owned about 1.68% of Corpay worth $313,644,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Chevy Chase Trust Holdings LLC purchased a new position in shares of Corpay during the 1st quarter valued at approximately $12,335,000. Empirical Finance LLC purchased a new stake in Corpay in the 1st quarter worth $829,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Corpay in the 1st quarter worth $1,013,000. Agate Pass Investment Management LLC purchased a new stake in Corpay in the 1st quarter worth $3,937,000. Finally, EP Wealth Advisors LLC purchased a new stake in Corpay in the 1st quarter worth $949,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Price Performance

NYSE CPAY opened at $307.40 on Tuesday. The firm has a 50-day moving average of $289.73. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $21.34 billion, a PE ratio of 22.87, a P/E/G ratio of 1.21 and a beta of 1.22.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $973.84 million. During the same quarter in the prior year, the company posted $3.85 earnings per share. Corpay’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, analysts anticipate that Corpay, Inc. will post 17.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. 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 report on Thursday, August 8th. Evercore ISI dropped their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. Finally, Bank of America lowered their price target on shares of Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.50.

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.