Bridgewater Associates LP Acquires 6,208 Shares of Corpay, Inc. (NYSE:CPAY)

Bridgewater Associates LP lifted its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,292 shares of the company's stock after buying an additional 6,208 shares during the quarter. Bridgewater Associates LP owned about 0.20% of Corpay worth $47,478,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Avion Wealth grew its holdings in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after acquiring an additional 91 shares during the period. Versant Capital Management Inc increased its holdings in Corpay by 130.4% in 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 in the last quarter. Spire Wealth Management acquired a new position in Corpay in the fourth quarter valued at approximately $42,000. Assetmark Inc. boosted 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Corpay by 70.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock worth $45,000 after buying an additional 55 shares during the period. Institutional investors own 98.84% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays cut their target price on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Morgan Stanley raised their target price on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They set a "buy" rating and a $430.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company upped their target price on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Corpay currently has an average rating of "Moderate Buy" and a consensus target price of $400.38.

Corpay Price Performance

Shares of CPAY traded up $1.62 during mid-day trading on Friday, reaching $308.39. 353,820 shares of the stock traded hands, compared to its average volume of 483,833. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The company has a market cap of $21.66 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. The firm has a fifty day moving average price of $341.13 and a 200 day moving average price of $351.92.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Corpay 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.