Corpay, Inc. (NYSE:CPAY) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Corpay, Inc. (NYSE:CPAY) by 20.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,212 shares of the company’s stock after buying an additional 208 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Corpay were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in Corpay during the 1st quarter worth about $31,000. LGT Financial Advisors LLC acquired a new stake in shares of Corpay during the 2nd quarter worth about $33,000. Sunbelt Securities Inc. acquired a new position in Corpay in the first quarter valued at approximately $34,000. RFP Financial Group LLC purchased a new position in Corpay in the first quarter valued at approximately $35,000. Finally, Blue Trust Inc. increased its stake in 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 purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Price Performance

Corpay stock opened at $307.21 on Friday. 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 business’s 50 day moving average is $296.06. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The stock has a market capitalization of $21.59 billion, a PE ratio of 22.86, a PEG ratio of 1.22 and a beta of 1.22.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping 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 company had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter last year, the business earned $3.85 EPS. The business’s revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Corpay, Inc. will post 17.81 EPS for the current year.

Wall Street Analyst Weigh In

CPAY has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. William Blair upgraded Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Bank of America decreased their target price on Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Raymond James cut their price target on Corpay from $330.00 to $311.00 and set an “outperform” 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

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.