Corpay, Inc. (NYSE:CPAY) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC raised its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,466 shares of the company's stock after acquiring an additional 825 shares during the quarter. Tidal Investments LLC's holdings in Corpay were worth $1,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CPAY. JPMorgan Chase & Co. boosted its position in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after acquiring an additional 120,578 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Corpay in the fourth quarter worth approximately $530,000. Crossmark Global Holdings Inc. boosted its position in shares of Corpay by 70.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock worth $1,689,000 after acquiring an additional 2,059 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Corpay by 68.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company's stock worth $1,342,000 after acquiring an additional 1,611 shares during the last quarter. Finally, Dakota Wealth Management acquired a new stake in shares of Corpay in the fourth quarter worth approximately $228,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Performance

Shares of Corpay stock traded up $0.42 during trading on Thursday, hitting $329.18. 98,125 shares of the company's stock traded hands, compared to its average volume of 478,175. Corpay, Inc. has a 1 year low of $247.10 and a 1 year 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 stock has a market capitalization of $23.20 billion, a P/E ratio of 23.55, a PEG ratio of 1.32 and a beta of 0.98. The business has a 50-day simple moving average of $326.33 and a 200-day simple moving average of $349.83.

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 return on equity of 41.46% and a net margin of 25.25%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $4.10 EPS. The company's revenue was up 7.5% compared to the same quarter last year. As a group, analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CPAY shares. Wells Fargo & Company reduced their price target 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. Royal Bank of Canada upped their price target 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 Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Oppenheimer started coverage on shares of Corpay in a research note on Monday, April 28th. They issued a "market perform" rating on the stock. Finally, Raymond James reaffirmed an "outperform" rating and issued a $414.00 price target (down 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.