AlphaQuest LLC Boosts Stock Holdings in Corpay, Inc. (NYSE:CPAY)

AlphaQuest LLC raised its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 142.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,512 shares of the company’s stock after buying an additional 3,821 shares during the quarter. AlphaQuest LLC’s holdings in Corpay were worth $2,204,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CPAY. Raymond James Financial Inc. acquired a new stake in shares of Corpay in the 4th quarter worth $134,950,000. JPMorgan Chase & Co. raised its position in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares during the period. Prana Capital Management LP acquired a new position in shares of Corpay in the 3rd quarter valued at $31,541,000. Proficio Capital Partners LLC purchased a new position in shares of Corpay during the 4th quarter worth $28,632,000. Finally, Swedbank AB increased its position in shares of Corpay by 44.9% during the 4th quarter. Swedbank AB now owns 269,717 shares of the company’s stock worth $91,278,000 after purchasing an additional 83,600 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Down 2.0 %

CPAY stock opened at $335.78 on Friday. The company’s 50 day moving average price is $365.56 and its 200 day moving average price is $347.77. The firm has a market capitalization of $23.59 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. 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) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. On average, equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CPAY. Wells Fargo & Company upped their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Royal Bank of Canada lifted 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 boosted their target price on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets raised their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.