AlphaQuest LLC Has $2.20 Million Stake in Corpay, Inc. (NYSE:CPAY)

AlphaQuest LLC raised its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 142.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,512 shares of the company's stock after purchasing an additional 3,821 shares during the quarter. AlphaQuest LLC's holdings in Corpay were worth $2,204,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. US Bancorp DE boosted its holdings in Corpay by 5.0% in the third quarter. US Bancorp DE now owns 3,091 shares of the company's stock valued at $967,000 after acquiring an additional 148 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Corpay by 4.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 2,863 shares of the company's stock valued at $895,000 after purchasing an additional 111 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Corpay by 2.6% during the 3rd quarter. Principal Financial Group Inc. now owns 86,539 shares of the company's stock worth $27,066,000 after purchasing an additional 2,175 shares during the period. CWA Asset Management Group LLC purchased a new position in Corpay in the third quarter valued at approximately $302,000. Finally, Verdence Capital Advisors LLC lifted its position in Corpay by 2.2% during the third quarter. Verdence Capital Advisors LLC now owns 19,365 shares of the company's stock valued at $6,057,000 after buying an additional 414 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Performance

CPAY stock traded down $5.74 on Thursday, reaching $328.18. The company's stock had a trading volume of 492,160 shares, compared to its average volume of 495,630. The firm has a fifty day moving average of $364.94 and a two-hundred day moving average of $348.42. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The company has a market capitalization of $23.05 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81.

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Corpay (NYSE:CPAY - Get Free Report) last released 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, analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CPAY. Keefe, Bruyette & Woods increased their price target on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Morgan Stanley raised their target price on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Citigroup began coverage on Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Finally, Raymond James dropped their price target on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $399.71.

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.