Dynamic Technology Lab Private Ltd Purchases New Shares in Corpay, Inc. (NYSE:CPAY)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,429 shares of the company’s stock, valued at approximately $1,499,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPAY. Avion Wealth grew its stake in shares of Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Versant Capital Management Inc boosted its position in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares during the last quarter. Quarry LP acquired a new stake in shares of Corpay in the 3rd quarter valued at $42,000. Spire Wealth Management bought a new stake in shares of Corpay during the fourth quarter worth $42,000. Finally, Assetmark Inc. lifted its stake in shares of Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock valued at $42,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of CPAY stock opened at $287.80 on Friday. The company has a market capitalization of $20.22 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The company’s 50 day moving average price is $359.52 and its two-hundred day moving average price is $352.45.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the 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 completion of the transaction, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CPAY. Wells Fargo & Company boosted their price objective on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Royal Bank of Canada lifted their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Morgan Stanley increased their price target on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets upped their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $401.54.

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.