25,807 Shares in Corpay, Inc. (NYSE:CPAY) Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership bought a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 25,807 shares of the company’s stock, valued at approximately $8,734,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Avion Wealth boosted its position in shares of Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc raised its stake in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 60 shares during the period. Quarry LP acquired a new position in shares of Corpay in the 3rd quarter valued at $42,000. Spire Wealth Management purchased a new stake in shares of Corpay during the 4th quarter valued at $42,000. Finally, Assetmark Inc. increased its holdings in shares of Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after buying an additional 60 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research note on Wednesday, January 8th. Citigroup began coverage on Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. BMO Capital Markets raised their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Royal Bank of Canada upped their price target on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $401.54.

Insider Buying and Selling

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the sale, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

Corpay Stock Down 9.4 %

NYSE CPAY opened at $287.80 on Monday. The stock’s 50 day simple moving average is $359.52 and its 200 day simple moving average is $353.09. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81. The firm has a market cap of $20.22 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. As a group, sell-side analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.