R Squared Ltd Purchases New Position in Corpay, Inc. (NYSE:CPAY)

R Squared Ltd acquired a new stake in Corpay, Inc. (NYSE:CPAY) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,400 shares of the company’s stock, valued at approximately $474,000. Corpay makes up 0.5% of R Squared Ltd’s holdings, making the stock its 29th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Albion Financial Group UT bought a new stake in Corpay during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc grew its position in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares in the last quarter. Huntington National Bank raised its position in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after buying an additional 40 shares in the last quarter. Quarry LP bought a new stake in Corpay during the third quarter valued at $42,000. Finally, Continuum Advisory LLC grew its position in Corpay by 47.9% during the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock worth $44,000 after buying an additional 46 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Insider Transactions at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Corpay Stock Performance

Corpay stock opened at $378.88 on Wednesday. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $385.30. The stock’s 50 day simple moving average is $360.97 and its two-hundred day simple moving average is $331.72. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $26.41 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.26 and a beta of 1.26.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.05. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Corpay had a net margin of 26.14% and a return on equity of 39.44%. During the same quarter in the prior year, the company posted $4.20 earnings per share. As a group, analysts expect that Corpay, Inc. will post 17.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CPAY. Morgan Stanley raised their price target on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Jefferies Financial Group raised their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America lifted their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets raised their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $381.43.

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.