Agate Pass Investment Management LLC Takes $3.94 Million Position in Corpay, Inc. (NYSE:CPAY)

Agate Pass Investment Management LLC acquired a new stake in Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,761 shares of the company’s stock, valued at approximately $3,937,000. Corpay comprises about 2.1% of Agate Pass Investment Management LLC’s portfolio, making the stock its 12th largest position.

Other large investors have also made changes to their positions in the company. Charles Schwab Trust Co acquired a new stake in shares of Corpay in the first quarter valued at about $1,234,000. Beese Fulmer Investment Management Inc. acquired a new stake in Corpay during the first quarter worth about $1,398,000. Czech National Bank acquired a new stake in Corpay during the first quarter worth about $3,920,000. Contravisory Investment Management Inc. acquired a new stake in Corpay during the first quarter worth about $8,537,000. Finally, Pensionfund Sabic acquired a new stake in Corpay during the first quarter worth about $1,327,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Price Performance

Shares of NYSE CPAY traded down $4.10 during midday trading on Thursday, hitting $266.24. The company’s stock had a trading volume of 214,567 shares, compared to its average volume of 472,229. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $319.94. The company’s fifty day moving average price is $277.18. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $18.71 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.04 and a beta of 1.21.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The company had revenue of $935.25 million during the quarter, compared to the consensus estimate of $936.25 million. Analysts anticipate that Corpay, Inc. will post 17.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on CPAY shares. Jefferies Financial Group increased their target price on shares of Corpay from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Wolfe Research lowered shares of Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 target price for the company. in a research note on Friday, May 17th. Robert W. Baird increased their target price on shares of Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup increased their target price on shares of Corpay from $325.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, BMO Capital Markets lowered their target price on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and an average target price of $335.20.

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.