AQR Capital Management LLC Buys 10,406 Shares of Corpay, Inc. $CPAY

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 increased its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 6.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,624 shares of the company's stock after acquiring an additional 10,406 shares during the quarter. AQR Capital Management LLC owned about 0.24% of Corpay worth $58,407,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Corpay by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company's stock worth $2,745,398,000 after purchasing an additional 119,987 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Corpay by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock worth $1,648,970,000 after purchasing an additional 472,147 shares during the period. Boston Partners raised its position in shares of Corpay by 5.8% in the first quarter. Boston Partners now owns 2,163,940 shares of the company's stock worth $751,371,000 after buying an additional 118,542 shares in the last quarter. Invesco Ltd. boosted its stake in Corpay by 12.3% during the first quarter. Invesco Ltd. now owns 1,894,732 shares of the company's stock valued at $660,731,000 after buying an additional 208,067 shares during the period. Finally, Wellington Management Group LLP grew its position in Corpay by 30.7% during the first quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company's stock worth $444,639,000 after buying an additional 299,452 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Trading Down 2.0%

Shares of CPAY traded down $6.19 during mid-day trading on Friday, reaching $307.41. The company's stock had a trading volume of 350,339 shares, compared to its average volume of 365,158. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The stock has a market cap of $21.71 billion, a PE ratio of 20.88, a P/E/G ratio of 1.19 and a beta of 1.00. The company's fifty day moving average price is $322.35 and its two-hundred day moving average price is $328.44. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CPAY shares. Morgan Stanley lowered their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. UBS Group cut their price target on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Robert W. Baird set a $440.00 price objective on shares of Corpay in a research report on Tuesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.