GAMMA Investing LLC Increases Stock Position in Corpay, Inc. (NYSE:CPAY)

GAMMA Investing LLC lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 38,235.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 559,696 shares of the company's stock after buying an additional 558,236 shares during the period. GAMMA Investing LLC owned about 0.80% of Corpay worth $195,177,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. boosted its stake in shares of Corpay by 163.7% in the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock valued at $570,801,000 after purchasing an additional 1,047,080 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Corpay by 20.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after acquiring an additional 1,000,699 shares during the last quarter. Norges Bank acquired a new stake in shares of Corpay during the 4th quarter valued at $241,739,000. Raymond James Financial Inc. bought a new stake in Corpay during the 4th quarter worth $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. acquired a new position in Corpay in the 4th quarter worth about $116,179,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Trading Up 1.8%

Shares of Corpay stock traded up $5.84 on Thursday, reaching $332.72. 85,713 shares of the company's stock were exchanged, compared to its average volume of 478,087. The company has a market capitalization of $23.45 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The firm's 50-day moving average is $323.40 and its two-hundred day moving average is $348.30.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $4.10 EPS. The business's revenue was up 7.5% on a year-over-year basis. Sell-side analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CPAY has been the topic of several research reports. Royal Bank of Canada boosted their price target on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. UBS Group dropped their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Raymond James reissued an "outperform" rating and issued a $414.00 price objective (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Wells Fargo & Company lowered their target price on 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, Keefe, Bruyette & Woods lifted their target price on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Corpay has an average rating of "Moderate Buy" and an average price target of $395.07.

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.