TCW Group Inc. Acquires 310 Shares of Corpay, Inc. (NYSE:CPAY)

by · The Cerbat Gem

TCW Group Inc. boosted its holdings in Corpay, Inc. (NYSE:CPAY – Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,654 shares of the company’s stock after purchasing an additional 310 shares during the quarter. TCW Group Inc.’s holdings in Corpay were worth $6,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC increased its holdings in shares of Corpay by 10.3% during the first quarter. LPL Financial LLC now owns 10,833 shares of the company’s stock valued at $3,778,000 after acquiring an additional 1,010 shares in the last quarter. Councilmark Asset Management LLC purchased a new stake in Corpay during the 1st quarter valued at about $201,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Corpay by 14.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,259 shares of the company’s stock valued at $5,670,000 after purchasing an additional 1,999 shares in the last quarter. Empirical Finance LLC raised its holdings in Corpay by 3.0% in the first quarter. Empirical Finance LLC now owns 2,541 shares of the company’s stock worth $886,000 after buying an additional 75 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in Corpay by 22.5% in the first quarter. HB Wealth Management LLC now owns 1,543 shares of the company’s stock worth $538,000 after buying an additional 283 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPAY. UBS Group reduced their price target on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company cut their target price on Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised Corpay from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Barclays lowered their price target on Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $401.07.

Check Out Our Latest Stock Report on CPAY

Corpay Price Performance

Shares of NYSE:CPAY opened at $335.66 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $23.66 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.28 and a beta of 0.95. The firm’s 50 day moving average price is $331.42 and its 200-day moving average price is $341.31. Corpay, Inc. has a twelve month low of $265.06 and a twelve month high of $400.81.

Corpay (NYSE:CPAY – Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $4.10 earnings per share. Equities research analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Corpay Company Profile

(Free Report)

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.

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