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

AlphaQuest LLC increased its holdings in Corpay, Inc. (NYSE:CPAY) by 142.0% in the fourth quarter, according to its most recent disclosure 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 period. AlphaQuest LLC’s holdings in Corpay were worth $2,204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Avion Wealth raised its position in shares of Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Versant Capital Management Inc grew its stake in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares during the last quarter. Huntington National Bank raised its holdings in Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after purchasing an additional 40 shares in the last quarter. Quarry LP purchased a new stake in shares of Corpay during the third quarter valued at about $42,000. Finally, Spire Wealth Management bought a new stake in shares of Corpay in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares in the company, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on CPAY shares. BMO Capital Markets boosted their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Royal Bank of Canada lifted their price target 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. Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Morgan Stanley boosted their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Raymond James reduced their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $399.71.

Corpay Stock Performance

Shares of NYSE CPAY opened at $335.78 on Friday. The company has a 50 day simple moving average of $365.56 and a two-hundred day simple moving average of $347.77. The stock has a market cap of $23.59 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 1.32 and a beta of 1.25. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81.

Corpay (NYSE:CPAY) last issued its earnings results 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, analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current 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.