Taika Capital LP Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Taika Capital LP bought a new position in shares of Corpay, Inc. (NYSE:CPAY) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,025 shares of the company’s stock, valued at approximately $347,000.

A number of other large investors have also recently added to or reduced their stakes in CPAY. JPMorgan Chase & Co. grew its holdings in shares of Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after acquiring an additional 120,578 shares in the last quarter. FMR LLC lifted its stake in 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 purchasing an additional 78,880 shares during the last quarter. Geode Capital Management LLC lifted its stake in Corpay by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after purchasing an additional 23,275 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Corpay by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company’s stock valued at $160,904,000 after purchasing an additional 16,981 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Corpay in the 4th quarter valued at about $134,950,000. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

CPAY has been the subject of several recent analyst reports. Morgan Stanley raised their target price 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 lifted their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Raymond James dropped their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Finally, Citigroup assumed coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $399.71.

Corpay Stock Performance

NYSE CPAY opened at $335.78 on Monday. The firm’s fifty day moving average price is $365.56 and its two-hundred day moving average price is $348.15. The stock has a market cap of $23.59 billion, a PE ratio of 24.02, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two 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 posted its earnings results 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, equities analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction 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. 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 currently owned by insiders.

Corpay Company 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.