Corpay, Inc. $CPAY Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Corpay, Inc. by 6.5%, acquiring an additional 10,406 shares, resulting in ownership of 171,624 shares valued at approximately $58.4 million.
• Corpay's stock price decreased by 1.0% to open at $316.65, with a market cap of $22.36 billion and a P/E ratio of 21.51.
• Recent analyst reports show mixed ratings, with Wall Street Zen upgrading to a "buy" and Raymond James setting a price target of $392.00, while other firms adjusted targets lower.

AQR Capital Management LLC boosted its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,624 shares of the company's stock after purchasing an additional 10,406 shares during the quarter. AQR Capital Management LLC owned about 0.24% of Corpay worth $58,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CPAY. Bank of America Corp DE boosted its position in Corpay by 12.0% during the fourth quarter. Bank of America Corp DE now owns 329,826 shares of the company's stock valued at $111,620,000 after purchasing an additional 35,318 shares in the last quarter. Captrust Financial Advisors boosted its position in Corpay by 38.2% during the fourth quarter. Captrust Financial Advisors now owns 1,910 shares of the company's stock valued at $646,000 after purchasing an additional 528 shares in the last quarter. Cetera Investment Advisers boosted its position in Corpay by 19.5% during the fourth quarter. Cetera Investment Advisers now owns 3,513 shares of the company's stock valued at $1,189,000 after purchasing an additional 574 shares in the last quarter. Colonial Trust Co SC boosted its position in Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after purchasing an additional 53 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Corpay during the fourth quarter valued at about $169,000. Institutional investors own 98.84% of the company's stock.

Corpay Price Performance

Shares of Corpay stock traded down $8.29 on Wednesday, reaching $304.84. The company's stock had a trading volume of 396,267 shares, compared to its average volume of 487,482. The company has a market capitalization of $21.53 billion, a P/E ratio of 20.71, a PEG ratio of 1.18 and a beta of 1.00. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. The stock has a 50-day moving average price of $324.16 and a 200-day moving average price of $329.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. Corpay's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.55 EPS. Analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target for the company. Robert W. Baird set a $440.00 price target on Corpay in a report on Tuesday, June 10th. UBS Group lowered their price target on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Morgan Stanley lowered their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Finally, Raymond James Financial set a $392.00 price target on Corpay and gave the stock an "outperform" rating in a report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $399.43.

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.