Corpay, Inc. (NYSE:CPAY) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC lifted its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 417.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,669 shares of the company's stock after acquiring an additional 7,799 shares during the quarter. Squarepoint Ops LLC's holdings in Corpay were worth $3,272,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CPAY. Allspring Global Investments Holdings LLC boosted its stake in shares of Corpay by 17.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock valued at $8,067,000 after purchasing an additional 3,504 shares during the period. Nisa Investment Advisors LLC boosted its position in Corpay by 68.4% during 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 bought a new stake in Corpay in the 4th quarter worth $499,000. Proficio Capital Partners LLC purchased a new position in shares of Corpay in the fourth quarter valued at about $28,632,000. Finally, Aviso Financial Inc. bought a new position in shares of Corpay during the fourth quarter valued at about $151,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Trading Down 1.0%

CPAY stock traded down $3.43 during trading on Friday, hitting $326.18. The company had a trading volume of 282,081 shares, compared to its average volume of 478,991. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The firm has a market capitalization of $22.99 billion, a P/E ratio of 23.34, a PEG ratio of 1.32 and a beta of 0.98. The company has a 50 day simple moving average of $325.76 and a 200-day simple moving average of $349.52. 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 posted its earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.02 billion. Corpay had a net margin of 25.25% and a return on equity of 41.46%. Corpay's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.10 earnings per share. As a group, research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CPAY shares. Wells Fargo & Company reduced their price objective on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. UBS Group cut their target price on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Oppenheimer began coverage on Corpay in a research report on Monday, April 28th. They issued a "market perform" rating for the company. Raymond James reiterated an "outperform" rating and issued a $414.00 price target (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Finally, Barclays dropped their target price on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Five investment 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.