Two Sigma Investments LP Makes New $426,000 Investment in Corpay, Inc. (NYSE:CPAY)

Two Sigma Investments LP acquired a new position in Corpay, Inc. (NYSE:CPAY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,260 shares of the company's stock, valued at approximately $426,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Invesco Ltd. boosted its position in 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 buying an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD grew its position in Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after purchasing an additional 1,000,699 shares during the period. Norges Bank purchased a new position in Corpay during the fourth quarter valued at approximately $241,739,000. Raymond James Financial Inc. purchased a new position in shares of Corpay during the 4th quarter valued at approximately $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of Corpay during the 4th quarter worth about $116,179,000. 98.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on CPAY. Wells Fargo & Company cut their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Raymond James reiterated an "outperform" rating and set a $414.00 price target (down previously from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Oppenheimer assumed coverage on Corpay in a research report on Monday, April 28th. They issued a "market perform" rating for the company. UBS Group lowered their price target on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Robert W. Baird set a $440.00 price target on Corpay in a research note on Tuesday. 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $398.07.

Corpay Stock Down 7.7%

Corpay stock traded down $27.07 during mid-day trading on Friday, hitting $322.98. The company had a trading volume of 748,495 shares, compared to its average volume of 482,387. 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, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The business has a fifty day moving average of $325.57 and a 200 day moving average of $347.08. The stock has a market cap of $22.77 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.32 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned $4.10 EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.