Bridgewater Associates LP Acquires 6,208 Shares of Corpay, Inc. (NYSE:CPAY)

Bridgewater Associates LP boosted its holdings in Corpay, Inc. (NYSE:CPAY) by 4.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 140,292 shares of the company’s stock after acquiring an additional 6,208 shares during the quarter. Bridgewater Associates LP’s holdings in Corpay were worth $47,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of Corpay by 17.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock valued at $8,067,000 after purchasing an additional 3,504 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Corpay by 70.3% during the 4th 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 bought a new position in Corpay in the 4th quarter worth about $3,667,000. Nisa Investment Advisors LLC grew its holdings in Corpay by 68.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company’s stock valued at $1,342,000 after buying an additional 1,611 shares in the last quarter. Finally, Journey Strategic Wealth LLC bought a new stake in shares of Corpay during the fourth quarter valued at about $499,000. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of NYSE CPAY opened at $308.95 on Tuesday. The stock’s 50-day moving average is $346.59 and its 200 day moving average is $352.34. The stock has a market cap of $21.70 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 1.32 and a beta of 1.11. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. 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 announced its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. On average, sell-side analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now directly owns 12,215 shares in the company, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

CPAY has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Morgan Stanley raised their price target on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods increased their price objective on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their target price on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Three investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $400.38.

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.