Sumitomo Mitsui Trust Group Inc. Purchases 4,618 Shares of Corpay, Inc. $CPAY

Sumitomo Mitsui Trust Group Inc. raised its position 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 (SEC). The firm owned 152,755 shares of the company’s stock after purchasing an additional 4,618 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Corpay were worth $50,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cerity Partners LLC grew its holdings in shares of Corpay by 6.2% during the first quarter. Cerity Partners LLC now owns 33,385 shares of the company’s stock worth $11,642,000 after purchasing an additional 1,942 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Corpay by 54.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,590 shares of the company’s stock worth $3,693,000 after purchasing an additional 3,739 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Corpay by 50.1% during the second quarter. Nordea Investment Management AB now owns 20,297 shares of the company’s stock worth $6,670,000 after purchasing an additional 6,775 shares in the last quarter. Peak Financial Advisors LLC purchased a new position in shares of Corpay during the second quarter worth about $2,518,000. Finally, Czech National Bank grew its holdings in shares of Corpay by 7.6% during the second quarter. Czech National Bank now owns 17,230 shares of the company’s stock worth $5,717,000 after purchasing an additional 1,219 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of Corpay stock opened at $284.52 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The company has a market cap of $20.09 billion, a PE ratio of 19.33, a P/E/G ratio of 1.08 and a beta of 0.97. The business has a 50 day moving average of $301.79 and a 200 day moving average of $317.96. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81.

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen lowered Corpay from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. UBS Group cut their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corpay in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods cut their target price on Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Finally, Morgan Stanley cut their target price on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $395.58.

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.