Corpay, Inc. (NYSE:CPAY) Shares Bought by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. grew its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 1,177,297 shares of the company’s stock after purchasing an additional 12,338 shares during the quarter. Corpay comprises about 1.5% of Mawer Investment Management Ltd.’s holdings, making the stock its 21st largest position. Mawer Investment Management Ltd.’s holdings in Corpay were worth $313,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. purchased a new stake in Corpay during the first quarter worth about $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in Corpay during the first quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new stake in Corpay during the first quarter worth about $1,355,377,000. Boston Partners purchased a new stake in Corpay during the first quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP purchased a new stake in Corpay during the first quarter worth about $553,279,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Trading Up 1.5 %

Corpay stock opened at $307.40 on Tuesday. The stock has a market cap of $21.34 billion, a PE ratio of 22.87, a PEG ratio of 1.21 and a beta of 1.22. The stock’s 50-day moving average is $289.73. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping 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 firm had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter last year, the business posted $3.85 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Corpay, Inc. will post 17.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPAY. Barclays cut their price target on shares of Corpay from $355.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. Jefferies Financial Group upped their target price on shares of Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Raymond James cut their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company began coverage on shares of Corpay in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 target price on the stock. Finally, William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $332.50.

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.