BNP Paribas Financial Markets Invests $30.44 Million in Corpay, Inc. (NYSE:CPAY)

BNP Paribas Financial Markets purchased a new position in shares of Corpay, Inc. (NYSE:CPAY) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 98,665 shares of the company’s stock, valued at approximately $30,442,000. BNP Paribas Financial Markets owned approximately 0.14% of Corpay at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPAY. Bank of New York Mellon Corp purchased a new stake in shares of Corpay during the 1st quarter worth about $142,035,000. Wedge Capital Management L L P NC bought a new position in shares of Corpay in the 1st quarter valued at approximately $87,708,000. Cornerstone Investment Partners LLC bought a new position in shares of Corpay in the 1st quarter valued at approximately $67,259,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Corpay in the 1st quarter valued at approximately $52,600,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Corpay in the 1st quarter valued at approximately $33,840,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Performance

Shares of NYSE:CPAY traded up $3.09 during trading on Friday, hitting $270.48. 327,437 shares of the stock were exchanged, compared to its average volume of 485,739. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $319.94. The stock has a market capitalization of $19.01 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 1.04 and a beta of 1.20. The company has a fifty day moving average price of $272.48. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The company had revenue of $935.25 million for the quarter, compared to analyst estimates of $936.25 million. On average, research analysts forecast that Corpay, Inc. will post 17.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research note on Friday, June 21st. Barclays lowered their target price on Corpay from $355.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Jefferies Financial Group raised their target price on Corpay from $340.00 to $355.00 and gave the company a “buy” rating in a report on Friday, April 12th. Evercore ISI lowered their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, BMO Capital Markets lowered their target price on Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $335.20.

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.