Aquatic Capital Management LLC Takes $4.79 Million Position in Corpay, Inc. (NYSE:CPAY)

Aquatic Capital Management LLC purchased a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,144 shares of the company's stock, valued at approximately $4,787,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPAY. Invesco Ltd. grew its position in shares of Corpay by 163.7% in the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock valued at $570,801,000 after purchasing an additional 1,047,080 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after purchasing an additional 1,000,699 shares during the last quarter. Norges Bank acquired a new stake in shares of Corpay in the fourth quarter valued at about $241,739,000. Raymond James Financial Inc. acquired a new stake in shares of Corpay in the fourth quarter valued at about $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. acquired a new stake in Corpay during the fourth quarter worth about $116,179,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Performance

Shares of Corpay stock opened at $322.39 on Monday. 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 firm has a 50 day simple moving average of $334.94 and a 200 day simple moving average of $351.42. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a market cap of $22.65 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data 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%. Sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

CPAY has been the topic of a number of recent research reports. Citigroup initiated coverage on Corpay in a research report on Tuesday, January 14th. They set a "buy" rating and a $430.00 target price on the stock. Royal Bank of Canada lifted their target price on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Morgan Stanley lifted their target price on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Wolfe Research raised Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price objective on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a report on Thursday. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $397.62.

Insiders Place Their Bets

In other news, Director Richard Macchia sold 2,427 shares of the 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 transaction, the director now owns 12,215 shares of the company's stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction 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.

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.

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