Point72 Hong Kong Ltd Buys New Shares in Corpay, Inc. (NYSE:CPAY)

Point72 Hong Kong Ltd acquired a new position in Corpay, Inc. (NYSE:CPAY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,167 shares of the company's stock, valued at approximately $1,072,000.

Several other large investors have also added to or reduced their stakes in the business. Avion Wealth lifted its position in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after buying an additional 91 shares in the last quarter. Colonial Trust Co SC raised its holdings in Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after acquiring an additional 53 shares in the last quarter. Spire Wealth Management acquired a new position in Corpay during the fourth quarter valued at approximately $42,000. Assetmark Inc. grew 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 shares of Corpay during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Analyst Ratings Changes

CPAY has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Royal Bank of Canada upped their target price on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Morgan Stanley lifted their price target on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Barclays lowered their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Corpay currently has an average rating of "Moderate Buy" and an average price target of $395.07.

Corpay Stock Performance

Shares of NYSE CPAY traded down $0.39 during trading hours on Monday, reaching $348.39. 314,931 shares of the stock were exchanged, compared to its average volume of 480,599. The stock's fifty day simple moving average is $328.21 and its 200 day simple moving average is $350.50. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The firm has a market capitalization of $24.56 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 1.32 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY - Get Free Report) last issued 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 return on equity of 41.46% and a net margin of 25.25%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $4.10 earnings per share. The business's quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts predict that Corpay, Inc. will post 19.76 EPS for the current 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.