Quantbot Technologies LP Boosts Stake in Corpay, Inc. (NYSE:CPAY)

Quantbot Technologies LP increased its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 152.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,546 shares of the company's stock after acquiring an additional 6,361 shares during the period. Quantbot Technologies LP's holdings in Corpay were worth $3,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TD Private Client Wealth LLC raised its stake in shares of Corpay by 17.0% in the fourth quarter. TD Private Client Wealth LLC now owns 2,438 shares of the company's stock worth $825,000 after purchasing an additional 354 shares during the last quarter. HUB Investment Partners LLC raised its position in Corpay by 83.6% in the 4th quarter. HUB Investment Partners LLC now owns 1,652 shares of the company's stock worth $559,000 after buying an additional 752 shares during the last quarter. iA Global Asset Management Inc. raised its position in Corpay by 14.8% in the 4th quarter. iA Global Asset Management Inc. now owns 3,190 shares of the company's stock worth $1,080,000 after buying an additional 412 shares during the last quarter. Wilkins Investment Counsel Inc. lifted its stake in Corpay by 3.8% during the 4th quarter. Wilkins Investment Counsel Inc. now owns 27,345 shares of the company's stock valued at $9,254,000 after acquiring an additional 1,005 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in shares of Corpay during the 4th quarter valued at about $5,603,000. 98.84% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CPAY. Citigroup assumed coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price objective on the stock. Morgan Stanley increased 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. BMO Capital Markets lifted their price objective on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Keefe, Bruyette & Woods increased their target price on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada raised 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. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $399.71.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred 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 completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.10% of the stock is currently owned by company insiders.

Corpay Stock Performance

Corpay stock traded down $1.15 during midday trading on Wednesday, hitting $357.51. The stock had a trading volume of 245,116 shares, compared to its average volume of 459,174. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a market capitalization of $25.12 billion, a PE ratio of 25.57, a P/E/G ratio of 1.32 and a beta of 1.25. The firm's fifty day moving average is $364.62 and its two-hundred day moving average is $351.21. 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 quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. On average, research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

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.