Corpay, Inc. (NYSE:CPAY) Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC increased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,590 shares of the company's stock after acquiring an additional 1,050 shares during the quarter. Rafferty Asset Management LLC's holdings in Corpay were worth $8,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CPAY. Allspring Global Investments Holdings LLC increased its stake in Corpay by 17.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock worth $8,067,000 after acquiring an additional 3,504 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in Corpay by 70.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock valued at $1,689,000 after buying an additional 2,059 shares during the period. Nisa Investment Advisors LLC raised its holdings in Corpay by 68.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company's stock valued at $1,342,000 after buying an additional 1,611 shares during the period. Journey Strategic Wealth LLC purchased a new stake in shares of Corpay in the 4th quarter valued at approximately $499,000. Finally, Proficio Capital Partners LLC acquired a new position in Corpay during the fourth quarter worth $28,632,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CPAY shares. UBS Group reduced their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada raised their target price on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Wells Fargo & Company decreased their price objective 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. Finally, Raymond James reissued an "outperform" rating and issued a $414.00 target price (down previously from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Corpay presently has a consensus rating of "Moderate Buy" and a consensus target price of $395.07.

Corpay Stock Performance

Shares of NYSE CPAY traded down $2.24 during trading hours on Friday, reaching $323.89. The stock had a trading volume of 75,753 shares, compared to its average volume of 484,673. The firm has a 50-day moving average of $328.10 and a 200-day moving average of $350.38. The firm has a market cap of $22.83 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.32 and a beta of 0.98. 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 fifty-two week low of $247.10 and a fifty-two week high of $400.81.

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

About Corpay

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.