Millennium Management LLC Boosts Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Millennium Management LLC raised its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,932 shares of the company's stock after acquiring an additional 4,950 shares during the quarter. Millennium Management LLC owned about 0.08% of Corpay worth $19,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CPAY. Avion Wealth raised its holdings in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after acquiring an additional 91 shares during the period. Colonial Trust Co SC raised its holdings in Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after acquiring an additional 53 shares during the period. Spire Wealth Management bought a new stake in Corpay during the 4th quarter valued at $42,000. Assetmark Inc. raised its holdings in Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after acquiring an additional 60 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in Corpay during the 4th quarter valued at $43,000. Institutional investors own 98.84% of the company's stock.

Corpay Price Performance

NYSE:CPAY traded down $1.63 during midday trading on Friday, hitting $324.50. The company had a trading volume of 333,868 shares, compared to its average volume of 479,395. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The stock's fifty day moving average price is $327.64 and its 200-day moving average price is $350.34. The company has a market capitalization of $22.87 billion, a PE ratio of 23.21, a P/E/G ratio of 1.32 and a beta of 0.98. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business earned $4.10 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Oppenheimer assumed coverage on shares of Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Raymond James reissued an "outperform" rating and set a $414.00 target price (down previously from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Barclays reduced their price target on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada boosted their price target on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company reduced their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $395.07.

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.