Voloridge Investment Management LLC Acquires Shares of 27,242 Corpay, Inc. (NYSE:CPAY)

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

A number of other institutional investors have also made changes to their positions in CPAY. Vanguard Group Inc. grew its stake in shares of Corpay by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock valued at $2,623,702,000 after acquiring an additional 120,688 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Corpay by 20.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after purchasing an additional 1,000,699 shares during the period. JPMorgan Chase & Co. grew its position in shares of Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after purchasing an additional 120,578 shares in the last quarter. Boston Partners increased its holdings in shares of Corpay by 6.4% during the fourth quarter. Boston Partners now owns 2,045,398 shares of the company's stock worth $694,847,000 after purchasing an additional 122,380 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Corpay by 1.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after buying an additional 20,937 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CPAY shares. Keefe, Bruyette & Woods increased their price target on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Morgan Stanley boosted their price target on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Raymond James reissued an "outperform" rating and issued a $414.00 target price (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Finally, UBS Group cut their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Corpay currently has an average rating of "Moderate Buy" and an average price target of $395.07.

Corpay Stock Down 1.1%

CPAY traded down $3.83 during midday trading on Wednesday, hitting $329.40. The company had a trading volume of 428,205 shares, compared to its average volume of 479,651. 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 52 week low of $247.10 and a 52 week high of $400.81. The stock's 50 day moving average price is $326.68 and its 200 day moving average price is $349.97. The company has a market capitalization of $23.22 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.32 and a beta of 0.98.

Corpay (NYSE:CPAY - Get Free Report) last posted its 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. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The company 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 firm posted $4.10 earnings per share. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.