Optimize Financial Inc Purchases New Holdings in Corpay, Inc. (NYSE:CPAY)

Optimize Financial Inc acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,055 shares of the company’s stock, valued at approximately $357,000.

Other hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Corpay by 163.7% during the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock worth $570,801,000 after purchasing an additional 1,047,080 shares during the last quarter. Norges Bank acquired a new position in Corpay in the 4th quarter valued at $241,739,000. Raymond James Financial Inc. purchased a new position in Corpay during the 4th quarter worth $134,950,000. Neuberger Berman Group LLC lifted its stake in shares of Corpay by 8,620.5% in the 4th quarter. Neuberger Berman Group LLC now owns 140,400 shares of the company’s stock worth $47,514,000 after acquiring an additional 138,790 shares during the period. Finally, Boston Partners boosted its holdings in shares of Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company’s stock valued at $694,847,000 after acquiring an additional 122,380 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction dated 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 directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CPAY shares. Keefe, Bruyette & Woods raised their price objective 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. Wells Fargo & Company raised their price target on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Citigroup began coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective on the stock. Royal Bank of Canada raised their target price on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Finally, Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $401.54.

Corpay Stock Performance

Shares of CPAY opened at $304.96 on Friday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The stock has a market cap of $21.42 billion, a P/E ratio of 21.81, a PEG ratio of 1.32 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average of $348.19 and a two-hundred day moving average of $352.04.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) 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%. As a group, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.