Man Group plc Acquires 17,645 Shares of Corpay, Inc. (NYSE:CPAY)

Man Group plc lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 658.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,326 shares of the company's stock after purchasing an additional 17,645 shares during the quarter. Man Group plc's holdings in Corpay were worth $6,879,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Nomura Holdings Inc. bought a new position in shares of Corpay during the fourth quarter worth approximately $778,000. NorthRock Partners LLC bought a new position in shares of Corpay during the fourth quarter worth approximately $261,000. Nuveen Asset Management LLC increased its holdings in shares of Corpay by 31.2% during the fourth quarter. Nuveen Asset Management LLC now owns 252,428 shares of the company's stock worth $85,427,000 after purchasing an additional 59,971 shares during the period. OMERS ADMINISTRATION Corp increased its holdings in shares of Corpay by 19.0% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,978 shares of the company's stock worth $1,008,000 after purchasing an additional 476 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Corpay by 9.2% during the fourth quarter. Millennium Management LLC now owns 58,932 shares of the company's stock worth $19,944,000 after purchasing an additional 4,950 shares during the period. 98.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CPAY. Oppenheimer began coverage on shares of Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. 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 increased their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Raymond James reiterated an "outperform" rating and set a $414.00 price target (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Finally, Morgan Stanley increased their price target on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Corpay presently has an average rating of "Moderate Buy" and an average target price of $395.07.

Corpay Stock Performance

Shares of Corpay stock opened at $348.39 on Tuesday. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The firm has a market capitalization of $24.56 billion, a P/E ratio of 24.92, a P/E/G ratio of 1.32 and a beta of 0.98. The company's 50 day moving average price is $328.49 and its two-hundred day moving average price is $350.63.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating 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 firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted $4.10 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.

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