Argonautica Private Wealth Management Inc. Invests $533,000 in Corpay, Inc. (NYSE:CPAY)

Argonautica Private Wealth Management Inc. acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,704 shares of the company’s stock, valued at approximately $533,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPAY. Chevy Chase Trust Holdings LLC bought a new stake in shares of Corpay in the 1st quarter valued at about $12,335,000. Empirical Finance LLC purchased a new position in Corpay in the first quarter worth $829,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Corpay in the first quarter worth $1,013,000. EP Wealth Advisors LLC acquired a new position in shares of Corpay during the first quarter worth $949,000. Finally, Swedbank AB lifted its holdings in shares of Corpay by 26.9% during the 2nd quarter. Swedbank AB now owns 127,217 shares of the company’s stock valued at $33,892,000 after purchasing an additional 27,000 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Bank of America upped their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. Morgan Stanley raised their price target on shares of Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Barclays boosted their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.46.

Corpay Stock Up 0.0 %

CPAY stock opened at $329.81 on Friday. Corpay, Inc. has a one year low of $221.37 and a one year high of $355.47. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s fifty day moving average is $322.19 and its 200 day moving average is $294.84. The firm has a market cap of $22.90 billion, a PE ratio of 23.97, a P/E/G ratio of 1.30 and a beta of 1.21.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same quarter in the previous year, the firm earned $3.85 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, research analysts forecast that Corpay, Inc. will post 17.96 EPS for the current year.

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.