Meiji Yasuda Asset Management Co Ltd. Raises Stake in Corpay, Inc. (NYSE:CPAY)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 20.7% during the second quarter, HoldingsChannel.com reports. The firm owned 1,212 shares of the company’s stock after purchasing an additional 208 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Corpay were worth $323,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in Corpay during the first quarter worth about $31,000. LGT Financial Advisors LLC purchased a new stake in shares of Corpay during the 2nd quarter worth approximately $33,000. Sunbelt Securities Inc. purchased a new stake in shares of Corpay during the 1st quarter worth approximately $34,000. RFP Financial Group LLC acquired a new stake in shares of Corpay in the 1st quarter worth approximately $35,000. Finally, Blue Trust Inc. increased its stake in Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CPAY shares. Bank of America lowered their target price on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Jefferies Financial Group upped their price target on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Finally, Evercore ISI reduced their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $334.58.

Corpay Stock Performance

Shares of CPAY opened at $307.21 on Friday. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The firm has a market cap of $21.59 billion, a P/E ratio of 22.86, a PEG ratio of 1.22 and a beta of 1.22. The company has a fifty day simple moving average of $296.06. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same quarter in the previous year, the business earned $3.85 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Corpay, Inc. will post 17.81 earnings per share for the current fiscal 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.