Dynamic Technology Lab Private Ltd Takes $1.50 Million Position in Corpay, Inc. (NYSE:CPAY)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,429 shares of the company's stock, valued at approximately $1,499,000.

Several other hedge funds also recently modified their holdings of CPAY. Norges Bank bought a new stake in Corpay in the fourth quarter valued at approximately $241,739,000. Raymond James Financial Inc. bought a new stake in shares of Corpay in the 4th quarter valued at $134,950,000. Boston Partners boosted its stake in shares of Corpay by 6.4% in the 4th quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after purchasing an additional 122,380 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Corpay by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock worth $2,623,702,000 after buying an additional 120,688 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock valued at $1,653,659,000 after buying an additional 120,578 shares during the period. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Down 6.1 %

Shares of NYSE:CPAY traded down $19.69 during mid-day trading on Thursday, hitting $302.18. 219,346 shares of the company traded hands, compared to its average volume of 481,534. The stock has a market cap of $21.23 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.32 and a beta of 1.11. The stock has a 50-day moving average price of $351.27 and a two-hundred day moving average price of $352.10. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY - Get Free Report) last posted its 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%. On average, equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the sale, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. BMO Capital Markets increased their price target on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. 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 report on Thursday, February 6th. Citigroup initiated coverage on Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Finally, Wolfe Research upgraded shares of 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. Three 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, Corpay presently has a consensus rating of "Moderate Buy" and a consensus target price of $401.54.

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.