Aigen Investment Management LP Purchases New Position in Corpay, Inc. (NYSE:CPAY)

Aigen Investment Management LP acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,687 shares of the company’s stock, valued at approximately $1,925,000.

A number of other institutional investors have also recently added to or reduced their stakes in CPAY. JPMorgan Chase & Co. raised its holdings in shares of Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares in the last quarter. Prana Capital Management LP bought a new position in Corpay during the third quarter valued at about $31,541,000. Proficio Capital Partners LLC acquired a new stake in shares of Corpay in the fourth quarter worth about $28,632,000. Swedbank AB boosted its stake in shares of Corpay by 44.9% during the 4th quarter. Swedbank AB now owns 269,717 shares of the company’s stock worth $91,278,000 after acquiring an additional 83,600 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Corpay by 3.0% in the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after acquiring an additional 78,880 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their target price on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their target price 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. Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Royal Bank of Canada raised their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets boosted their price objective on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Corpay Trading Down 4.7 %

Shares of CPAY stock opened at $348.85 on Wednesday. The firm has a fifty day moving average of $365.51 and a 200-day moving average of $347.04. The stock has a market cap of $24.51 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 1.32 and a beta of 1.25. 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.

Corpay (NYSE:CPAY) last released 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 net margin of 25.25% and a return on equity of 41.46%. On average, equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is owned by insiders.

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.