Sumitomo Mitsui Trust Group Inc. Has $50.69 Million Stake in Corpay, Inc. $CPAY

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Corpay, Inc. (NYSE:CPAY) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,755 shares of the company’s stock after purchasing an additional 4,618 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Corpay worth $50,687,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Corpay by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock valued at $2,745,398,000 after acquiring an additional 119,987 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after acquiring an additional 472,147 shares in the last quarter. Boston Partners lifted its stake in Corpay by 5.8% during the 1st quarter. Boston Partners now owns 2,163,940 shares of the company’s stock valued at $751,371,000 after acquiring an additional 118,542 shares in the last quarter. Invesco Ltd. lifted its stake in Corpay by 12.3% during the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock valued at $660,731,000 after acquiring an additional 208,067 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Corpay by 30.7% during the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock worth $444,639,000 after purchasing an additional 299,452 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Up 0.0%

CPAY stock opened at $284.52 on Tuesday. The stock has a 50-day simple moving average of $301.79 and a two-hundred day simple moving average of $317.96. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The firm has a market capitalization of $20.09 billion, a PE ratio of 19.33, a PEG ratio of 1.08 and a beta of 0.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corpay in a research note on Wednesday, October 8th. Wall Street Zen cut Corpay from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. UBS Group lowered their target price on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Keefe, Bruyette & Woods lowered their target price on Corpay from $445.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a research note on Thursday, July 17th. They set a “buy” rating and a $390.00 target price on the stock. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold 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 $395.58.

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.