Argonautica Private Wealth Management Inc. Boosts Stock Position in Corpay, Inc. $CPAY

Key Points

• Argonautica Private Wealth Management Inc. increased its stake in Corpay, Inc. by 85.7%, owning 3,141 shares valued at approximately $1,042,000 as of its most recent SEC filing.
• Corpay reported earnings of $5.13 EPS for the last quarter, surpassing analysts' expectations and showing a year-over-year revenue increase of 12.9%.
• Currently, 98.84% of Corpay's stock is held by institutional investors, indicating strong institutional confidence in the company.

Argonautica Private Wealth Management Inc. boosted its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 85.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,141 shares of the company's stock after purchasing an additional 1,450 shares during the quarter. Argonautica Private Wealth Management Inc.'s holdings in Corpay were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Corpay by 9.9% during the first quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock worth $560,000 after buying an additional 145 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Corpay by 9.2% during the first quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock worth $1,016,000 after acquiring an additional 246 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Corpay in the 1st quarter worth approximately $684,000. Oppenheimer Asset Management Inc. raised its holdings in Corpay by 1.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,132 shares of the company's stock valued at $2,138,000 after acquiring an additional 99 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Corpay by 25.0% during the 1st quarter. GHP Investment Advisors Inc. now owns 9,265 shares of the company's stock worth $3,231,000 after purchasing an additional 1,855 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Performance

NYSE CPAY opened at $287.20 on Wednesday. The firm has a market capitalization of $20.28 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.08 and a beta of 0.97. Corpay, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The business's 50-day simple moving average is $304.49 and its 200-day simple moving average is $318.24.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a research report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective for the company. Raymond James Financial set a $392.00 price target on Corpay and gave the company an "outperform" rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corpay in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their target price on shares of Corpay from $445.00 to $400.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 1st. Finally, Morgan Stanley lowered their target price on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corpay presently has a consensus rating of "Moderate Buy" and an average price target of $395.58.

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.

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