Lagoda Investment Management L.P. Increases Stock Position in Corpay, Inc. (NYSE:CPAY)

Lagoda Investment Management L.P. grew its stake in shares of Corpay, Inc. (NYSE:CPAY) by 26.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 910 shares of the company’s stock after buying an additional 190 shares during the quarter. Corpay makes up 0.2% of Lagoda Investment Management L.P.’s holdings, making the stock its 26th biggest holding. Lagoda Investment Management L.P.’s holdings in Corpay were worth $308,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CPAY. Invesco Ltd. boosted its position in Corpay by 163.7% during the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock worth $570,801,000 after purchasing an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock worth $1,976,651,000 after purchasing an additional 1,000,699 shares during the period. Norges Bank purchased a new stake in Corpay during the 4th quarter worth $241,739,000. Raymond James Financial Inc. purchased a new stake in Corpay during the 4th quarter worth $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new stake in Corpay during the 4th quarter worth $116,179,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James reaffirmed an “outperform” rating and set a $414.00 price target (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods upped their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Royal Bank of Canada upped their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Morgan Stanley upped their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Oppenheimer initiated coverage on shares of Corpay in a research report on Monday, April 28th. They issued a “market perform” rating for the company. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $395.07.

Corpay Stock Performance

Shares of Corpay stock opened at $327.13 on Monday. The firm has a market cap of $22.98 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. The firm’s 50-day simple moving average is $326.84 and its 200-day simple moving average is $349.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81.

Corpay (NYSE:CPAY) last issued its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.10 EPS. Equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.