Arrowstreet Capital Limited Partnership Takes Position in Corpay, Inc. (NYSE:CPAY)

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,807 shares of the company's stock, valued at approximately $8,734,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avion Wealth boosted its stake in shares of Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc lifted its holdings in 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 during the last quarter. Quarry LP acquired a new position in Corpay in the third quarter valued at about $42,000. Spire Wealth Management bought a new stake in Corpay during the fourth quarter worth about $42,000. Finally, Assetmark Inc. increased its holdings in shares of Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after buying an additional 60 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Corpay Trading Up 1.7 %

CPAY stock traded up $5.22 during midday trading on Friday, reaching $304.96. The company's stock had a trading volume of 457,902 shares, compared to its average volume of 483,835. The business's 50-day simple moving average is $348.19 and its 200-day simple moving average is $352.04. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The stock has a market cap of $21.42 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results 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%. As a group, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now directly owns 12,215 shares of the company's stock, valued at $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 is available through this hyperlink. Company insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of research analyst reports. Citigroup began coverage on Corpay in a research report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price target on the stock. Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Morgan Stanley lifted their price target on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Wells Fargo & Company increased their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Corpay has a consensus rating of "Moderate Buy" and an average target price of $401.54.

About Corpay

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.