Fox Run Management L.L.C. Invests $933,000 in Corpay, Inc. (NYSE:CPAY)

Fox Run Management L.L.C. bought a new position in shares of Corpay, Inc. (NYSE:CPAY) in the fourth quarter, Holdings Channel reports. The fund bought 2,758 shares of the company’s stock, valued at approximately $933,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avion Wealth lifted its holdings in shares of Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after buying an additional 91 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of 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 buying an additional 60 shares in the last quarter. Quarry LP acquired a new stake in shares of Corpay during the third quarter worth $42,000. Spire Wealth Management acquired a new stake in shares of Corpay during the fourth quarter worth $42,000. Finally, Assetmark Inc. lifted its holdings in shares of Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analysts Set New Price Targets

CPAY has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Raymond James dropped their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Morgan Stanley boosted their price target on 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 boosted their price target on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Performance

Corpay stock opened at $347.12 on Friday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The business’s 50-day moving average price is $364.50 and its two-hundred day moving average price is $350.17. The stock has a market cap of $24.38 billion, a PE ratio of 24.83, a P/E/G ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last released its quarterly earnings results 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%. As a group, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Transactions at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was 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 in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.