Taika Capital LP Invests $347,000 in Corpay, Inc. (NYSE:CPAY)

Taika Capital LP bought a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,025 shares of the company's stock, valued at approximately $347,000.

A number of other hedge funds have also added to or reduced their stakes in CPAY. Exchange Traded Concepts LLC increased its stake in shares of Corpay by 16.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company's stock worth $69,000 after purchasing an additional 29 shares in the last quarter. Tealwood Asset Management Inc. increased its stake in shares of Corpay by 0.7% in the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company's stock worth $1,420,000 after purchasing an additional 30 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Corpay by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company's stock worth $2,018,000 after purchasing an additional 30 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Corpay by 2.7% in the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company's stock worth $390,000 after purchasing an additional 30 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its stake in shares of Corpay by 3.5% in the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company's stock worth $318,000 after purchasing an additional 32 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CPAY. Raymond James reduced their price objective on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. BMO Capital Markets upped their price objective on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price target for the company. Royal Bank of Canada increased their price target on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods increased their price target on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Three equities research 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 company has an average rating of "Moderate Buy" and an average target price of $399.71.

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Insiders Place Their Bets

In other Corpay 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 value of $910,683.21. Following the completion of the sale, the director now owns 12,215 shares of the company's stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is owned by insiders.

Corpay Trading Down 1.7 %

Shares of NYSE:CPAY traded down $5.74 during trading on Thursday, reaching $328.18. The company's stock had a trading volume of 492,160 shares, compared to its average volume of 495,489. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $23.05 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The firm's 50 day simple moving average is $364.94 and its two-hundred day simple moving average is $348.42.

Corpay (NYSE:CPAY - Get Free Report) last announced 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%. On average, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal 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.