Dimensional Fund Advisors LP Boosts Stake in Corpay, Inc. (NYSE:CPAY)

Dimensional Fund Advisors LP increased its position in Corpay, Inc. (NYSE:CPAY) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 779,288 shares of the company’s stock after purchasing an additional 42,945 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.12% of Corpay worth $263,722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Avion Wealth lifted its position in 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 buying an additional 91 shares during the period. Versant Capital Management Inc boosted its stake in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares in the last quarter. Spire Wealth Management purchased a new stake in Corpay in the fourth quarter worth about $42,000. Assetmark Inc. increased 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 purchasing an additional 60 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of Corpay in the 4th quarter worth approximately $43,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Price Performance

NYSE CPAY opened at $298.54 on Tuesday. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The business’s fifty day moving average price is $339.75 and its 200-day moving average price is $351.92. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The stock has a market capitalization of $20.97 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 1.32 and a beta of 1.11.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CPAY shares. Barclays lowered their price objective on Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Citigroup began coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Morgan Stanley raised their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada raised 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. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.38.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction that occurred 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 approximately $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 accessible through the SEC website. Insiders own 6.10% of the company’s stock.

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.