Corpay, Inc. (NYSE:CPAY) Stock Position Raised by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,725 shares of the company’s stock after purchasing an additional 7,761 shares during the period. Gotham Asset Management LLC’s holdings in Corpay were worth $19,197,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Avion Wealth raised its holdings in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after buying an additional 91 shares during the period. Colonial Trust Co SC raised its holdings in shares of Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock valued at $33,000 after acquiring an additional 53 shares during the period. Spire Wealth Management purchased a new stake in shares of Corpay in the 4th quarter valued at approximately $42,000. Assetmark Inc. boosted its stake in Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after purchasing an additional 60 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in Corpay during the 4th quarter worth approximately $43,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Trading Up 0.0 %

Shares of Corpay stock opened at $327.13 on Friday. The company has a market cap of $22.98 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.32 and a beta of 0.98. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The company’s fifty day simple moving average is $326.84 and its 200-day simple moving average is $349.93. 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) last released its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company earned $4.10 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Transactions at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction 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 sale, the director now owns 12,215 shares in the company, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CPAY shares. 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. Citigroup initiated coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Wells Fargo & Company lowered their target price on Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada increased 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. Finally, Morgan Stanley boosted 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. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $395.07.

Corpay 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.