Headlands Technologies LLC Buys New Position in Corpay, Inc. (NYSE:CPAY)

Headlands Technologies LLC purchased a new position in Corpay, Inc. (NYSE:CPAY) in the fourth quarter, Holdings Channel.com reports. The fund purchased 2,214 shares of the company’s stock, valued at approximately $749,000.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Corpay by 17.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after acquiring an additional 3,504 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Corpay by 70.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company’s stock worth $1,689,000 after purchasing an additional 2,059 shares in the last quarter. Radnor Capital Management LLC purchased a new position in Corpay during the fourth quarter valued at $3,667,000. Vestcor Inc boosted its holdings in shares of Corpay by 239.5% during the 3rd quarter. Vestcor Inc now owns 7,088 shares of the company’s stock valued at $2,217,000 after buying an additional 5,000 shares in the last quarter. Finally, Maven Securities LTD grew its position in shares of Corpay by 70.0% in the 3rd quarter. Maven Securities LTD now owns 4,250 shares of the company’s stock worth $1,329,000 after buying an additional 1,750 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Trading Up 2.2 %

Shares of CPAY stock opened at $359.56 on Thursday. 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, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The stock has a market capitalization of $25.26 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.32 and a beta of 1.25. The firm’s 50 day moving average is $362.55 and its 200 day moving average is $352.84.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (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%. Research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the transaction, the director now owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CPAY shares. Royal Bank of Canada lifted their price target on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Citigroup initiated coverage on Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Raymond James cut their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price objective on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their target price on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

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.