R Squared Ltd Makes New Investment in Corpay, Inc. (NYSE:CPAY)

R Squared Ltd purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,400 shares of the company's stock, valued at approximately $474,000. Corpay accounts for 0.5% of R Squared Ltd's portfolio, making the stock its 29th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new position in shares of Corpay during the 3rd quarter valued at $27,000. Versant Capital Management Inc lifted its stake in shares of Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 60 shares in the last quarter. Huntington National Bank boosted its position in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company's stock worth $42,000 after buying an additional 40 shares during the period. Quarry LP acquired a new stake in shares of Corpay in the third quarter valued at about $42,000. Finally, Continuum Advisory LLC raised its holdings in shares of Corpay by 47.9% during the 3rd quarter. Continuum Advisory LLC now owns 142 shares of the company's stock valued at $44,000 after buying an additional 46 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Performance

CPAY traded down $6.92 on Friday, hitting $380.55. 398,177 shares of the company's stock were exchanged, compared to its average volume of 384,842. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock has a fifty day moving average of $361.47 and a two-hundred day moving average of $333.08. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $391.10. The firm has a market cap of $26.53 billion, a PE ratio of 27.14, a P/E/G ratio of 1.30 and a beta of 1.26.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.05. Corpay had a return on equity of 39.44% and a net margin of 26.14%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $4.20 EPS. On average, research analysts anticipate that Corpay, Inc. will post 17.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CPAY shares. Jefferies Financial Group increased their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. BMO Capital Markets boosted their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Barclays raised their target price on Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods cut their price target on Corpay from $425.00 to $415.00 and set an "outperform" rating on the stock in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Corpay presently has a consensus rating of "Moderate Buy" and a consensus target price of $381.43.

Insider Buying and Selling

In related news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares of the company's stock, valued at $664,961.88. This represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company's stock.

About Corpay

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.