Argonautica Private Wealth Management Inc. Makes New $533,000 Investment in Corpay, Inc. (NYSE:CPAY)

Argonautica Private Wealth Management Inc. purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,704 shares of the company's stock, valued at approximately $533,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in Corpay in the first quarter valued at about $2,431,089,000. JPMorgan Chase & Co. purchased a new position in Corpay in the first quarter valued at about $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new position in Corpay in the first quarter valued at about $1,355,377,000. Boston Partners purchased a new position in Corpay in the first quarter valued at about $553,667,000. Finally, Sustainable Growth Advisers LP purchased a new position in Corpay in the first quarter valued at about $553,279,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

NYSE:CPAY traded up $0.09 during trading hours on Friday, reaching $329.81. The company had a trading volume of 426,381 shares, compared to its average volume of 531,967. Corpay, Inc. has a 1-year low of $221.37 and a 1-year high of $355.47. The firm has a market cap of $22.90 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The business's 50 day moving average price is $322.19 and its 200-day moving average price is $294.83. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts' consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million during the quarter, compared to analysts' expectations of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business's revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.85 earnings per share. Research analysts forecast that Corpay, Inc. will post 17.96 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CPAY. William Blair raised Corpay to a "strong-buy" rating in a report on Thursday, August 8th. Morgan Stanley raised their price target on Corpay from $275.00 to $325.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Royal Bank of Canada reissued a "sector perform" rating and issued a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Wells Fargo & Company raised their price target on Corpay from $285.00 to $320.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Finally, Wolfe Research raised Corpay from an "underperform" rating to a "peer perform" rating in a report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $353.46.

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.