R Squared Ltd Takes $474,000 Position in Corpay, Inc. (NYSE:CPAY)

R Squared Ltd acquired a new stake in Corpay, Inc. (NYSE:CPAY) during the 4th quarter, Holdings Channel reports. The firm acquired 1,400 shares of the company’s stock, valued at approximately $474,000. Corpay comprises approximately 0.5% of R Squared Ltd’s portfolio, making the stock its 29th largest position.

Several other institutional investors have also recently made changes to their positions in the business. Mount Yale Investment Advisors LLC increased its holdings in shares of Corpay by 11.7% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,943 shares of the company’s stock worth $658,000 after purchasing an additional 203 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Corpay by 8.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,568 shares of the company’s stock valued at $1,884,000 after buying an additional 424 shares in the last quarter. KBC Group NV increased its stake in Corpay by 15.7% in the 4th quarter. KBC Group NV now owns 14,393 shares of the company’s stock worth $4,870,000 after acquiring an additional 1,951 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Corpay during the 4th quarter worth approximately $1,050,000. Finally, Blue Trust Inc. boosted its position in shares of Corpay by 63.6% during the 4th quarter. Blue Trust Inc. now owns 882 shares of the company’s stock valued at $276,000 after acquiring an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CPAY. Wells Fargo & Company upped their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lowered their price target on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Citigroup began coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective on the stock. Bank of America lifted their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Barclays increased their price target on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $381.43.

Insider Activity

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

Corpay Trading Down 0.2 %

NYSE CPAY opened at $378.88 on Wednesday. The stock has a market cap of $26.41 billion, a PE ratio of 27.02, a PEG ratio of 1.26 and a beta of 1.26. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $385.30. The company’s 50-day moving average price is $360.97 and its 200-day moving average price is $331.72. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.05. Corpay had a net margin of 26.14% and a return on equity of 39.44%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $4.20 earnings per share. Equities research analysts forecast that Corpay, Inc. will post 17.84 earnings per share 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.