Park West Asset Management LLC Raises Holdings in Corpay, Inc. (NYSE:CPAY)

Park West Asset Management LLC boosted its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 142,600 shares of the company's stock after buying an additional 22,600 shares during the quarter. Corpay accounts for approximately 3.9% of Park West Asset Management LLC's portfolio, making the stock its 9th largest holding. Park West Asset Management LLC owned 0.20% of Corpay worth $48,259,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in 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 acquiring an additional 1,047,080 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Corpay by 20.7% in the fourth 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 acquiring an additional 1,000,699 shares in the last quarter. Norges Bank acquired a new stake in shares of Corpay during the fourth quarter valued at $241,739,000. Raymond James Financial Inc. purchased a new stake in Corpay during the 4th quarter worth about $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. acquired a new position in Corpay in the 4th quarter valued at about $116,179,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CPAY shares. Keefe, Bruyette & Woods lifted their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Barclays reduced their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Citigroup initiated coverage on Corpay in a research report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price objective for the company. Morgan Stanley increased their target price on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Finally, 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 report on Thursday, February 6th. Four 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $397.62.

Corpay Stock Up 2.4 %

Shares of NYSE CPAY traded up $7.77 during trading on Friday, reaching $330.42. 776,683 shares of the stock were exchanged, compared to its average volume of 487,491. The company has a market capitalization of $23.21 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. The business's 50-day moving average price is $331.29 and its 200 day moving average price is $350.79. 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 twelve month low of $247.10 and a twelve month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, equities analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 6.10% of the stock is owned by company insiders.

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.