Magnetar Financial LLC Buys New Shares in Corpay, Inc. (NYSE:CPAY)

Magnetar Financial LLC purchased a new stake in Corpay, Inc. (NYSE:CPAY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,555 shares of the company’s stock, valued at approximately $5,603,000.

Several other hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC grew its stake in Corpay by 16.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $69,000 after buying an additional 29 shares during the last quarter. Tealwood Asset Management Inc. lifted its holdings in Corpay by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after purchasing an additional 30 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Corpay by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock valued at $2,018,000 after purchasing an additional 30 shares during the last quarter. IFP Advisors Inc lifted its holdings in Corpay by 2.7% during the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock valued at $390,000 after purchasing an additional 30 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in shares of Corpay by 3.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CPAY shares. Raymond James lowered their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada upped their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. BMO Capital Markets increased their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Keefe, Bruyette & Woods upped their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company raised their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Corpay Stock Performance

Shares of Corpay stock opened at $352.52 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $24.76 billion, a P/E ratio of 25.22, a P/E/G ratio of 1.32 and a beta of 1.25. The business has a fifty day simple moving average of $364.64 and a two-hundred day simple moving average of $349.68. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 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 analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity

In other Corpay news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.10% of the company’s stock.

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.