Twinbeech Capital LP Makes New $35.97 Million Investment in Corpay, Inc. (NYSE:CPAY)

Twinbeech Capital LP acquired a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 106,285 shares of the company's stock, valued at approximately $35,969,000. Twinbeech Capital LP owned 0.15% of Corpay as of its most recent SEC filing.

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

Corpay Stock Down 0.6%

Shares of NYSE:CPAY traded down $1.81 during midday trading on Thursday, reaching $326.19. The company had a trading volume of 470,953 shares, compared to its average volume of 479,294. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The business's 50 day moving average price is $328.54 and its 200 day moving average price is $350.41. The stock has a market cap of $22.99 billion, a PE ratio of 23.33, a P/E/G ratio of 1.32 and a beta of 0.98. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion for 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%. Corpay's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.10 earnings per share. Research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on CPAY shares. 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. Wells Fargo & Company reduced their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Raymond James reiterated an "outperform" rating and set a $414.00 target price (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Oppenheimer started coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Finally, Royal Bank of Canada lifted their target price on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $395.07.

Corpay 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.