DekaBank Deutsche Girozentrale Buys 10,219 Shares of Corpay, Inc. (NYSE:CPAY)

DekaBank Deutsche Girozentrale grew its stake in Corpay, Inc. (NYSE:CPAY) by 44.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,457 shares of the company’s stock after purchasing an additional 10,219 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Corpay were worth $10,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CPAY. Vanguard Group Inc. acquired a new position in shares of Corpay in the first quarter valued at $2,431,089,000. JPMorgan Chase & Co. acquired a new position in shares of Corpay in the 1st quarter valued at $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Corpay in the 1st quarter valued at $1,355,377,000. Boston Partners bought a new position in shares of Corpay during the 1st quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new stake in shares of Corpay during the 1st quarter valued at about $553,279,000. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Corpay stock opened at $331.88 on Thursday. Corpay, Inc. has a 12-month low of $221.37 and a 12-month high of $355.47. The stock has a 50-day simple moving average of $320.90 and a 200 day simple moving average of $294.39. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $23.32 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 1.39 and a beta of 1.22.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $973.84 million. During the same period in the previous year, the firm posted $3.85 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Corpay, Inc. will post 17.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CPAY. Wells Fargo & Company raised their price target on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group raised their target price on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Bank of America increased their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and an average target price of $353.46.

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.