Northwestern Mutual Wealth Management Co. Buys 148 Shares of Corpay, Inc. (NYSE:CPAY)

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 16.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,027 shares of the company’s stock after acquiring an additional 148 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Corpay were worth $274,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CPAY. Chevy Chase Trust Holdings LLC bought a new stake in shares of Corpay during the first quarter worth $12,335,000. Empirical Finance LLC acquired a new position in Corpay in the 1st quarter worth about $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Corpay in the 1st quarter worth about $1,013,000. Agate Pass Investment Management LLC bought a new position in Corpay in the first quarter valued at about $3,937,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Corpay during the first quarter valued at about $949,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Evercore ISI dropped their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group raised their target price on Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Three 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. According to MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.92.

Corpay Stock Performance

Shares of CPAY opened at $334.10 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm’s fifty day simple moving average is $302.20 and its two-hundred day simple moving average is $290.14. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $339.93. The stock has a market capitalization of $23.48 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.85 EPS. As a group, analysts predict that Corpay, Inc. will post 17.83 EPS for the current year.

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.