Voloridge Investment Management LLC Buys New Shares in Corpay, Inc. (NYSE:CPAY)

Voloridge Investment Management LLC purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,242 shares of the company's stock, valued at approximately $9,219,000.

Other hedge funds also recently made changes to their positions in the company. Avion Wealth grew its stake in shares of Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after buying an additional 91 shares in the last quarter. Colonial Trust Co SC raised its stake in Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after purchasing an additional 53 shares in the last quarter. Spire Wealth Management acquired a new position in Corpay in the fourth quarter valued at about $42,000. Assetmark Inc. raised its stake in Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after purchasing an additional 60 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in Corpay during the fourth quarter worth about $43,000. 98.84% of the stock is owned by institutional investors.

Corpay Trading Down 1.1%

Shares of NYSE CPAY traded down $3.79 during midday trading on Friday, hitting $325.82. The company's stock had a trading volume of 121,678 shares, compared to its average volume of 478,251. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The business's 50 day moving average is $325.76 and its two-hundred day moving average is $349.52. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The firm has a market cap of $22.97 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping the consensus estimate of $4.50 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.10 EPS. As a group, equities research analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Morgan Stanley upped their target price on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods increased their price target on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Royal Bank of Canada increased their price target on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Finally, Oppenheimer began coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.