Bridgewater Associates LP Has $47.48 Million Holdings in Corpay, Inc. (NYSE:CPAY)

Bridgewater Associates LP lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 140,292 shares of the company’s stock after buying an additional 6,208 shares during the quarter. Bridgewater Associates LP owned about 0.20% of Corpay worth $47,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CPAY. Allspring Global Investments Holdings LLC grew its holdings in Corpay by 17.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after purchasing an additional 3,504 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Corpay by 70.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company’s stock valued at $1,689,000 after buying an additional 2,059 shares during the period. Radnor Capital Management LLC bought a new stake in Corpay in the 4th quarter valued at about $3,667,000. Nisa Investment Advisors LLC raised its stake in Corpay by 68.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company’s stock worth $1,342,000 after buying an additional 1,611 shares during the period. Finally, Journey Strategic Wealth LLC acquired a new position in Corpay during the 4th quarter worth approximately $499,000. Institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

CPAY has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price objective on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted 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. Barclays dropped their price objective on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Finally, Citigroup assumed coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $400.38.

Corpay Stock Performance

Shares of Corpay stock opened at $308.95 on Tuesday. The firm has a market capitalization of $21.70 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. 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 business’s fifty day simple moving average is $346.59 and its 200 day simple moving average is $352.34. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current year.

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.