AssuredPartners Investment Advisors LLC Takes $424,000 Position in Corpay, Inc. (NYSE:CPAY)

AssuredPartners Investment Advisors LLC bought a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,254 shares of the company's stock, valued at approximately $424,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Corpay by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock worth $2,623,702,000 after acquiring an additional 120,688 shares in the last quarter. JPMorgan Chase & Co. grew its position in Corpay by 2.3% in the third 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 raised its stake in shares of Corpay by 3.0% during the third 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 period. Boston Partners raised its stake in shares of Corpay by 6.4% during the fourth quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after purchasing an additional 122,380 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Corpay by 1.4% in the third 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 period. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CPAY shares. Raymond James dropped their price target on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. Citigroup assumed coverage on Corpay in a research note on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price target on the stock. Wells Fargo & Company raised their price objective on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Morgan Stanley upped their target price on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets raised their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued 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

Shares of NYSE CPAY traded up $2.11 during midday trading on Monday, hitting $348.80. The company's stock had a trading volume of 369,431 shares, compared to its average volume of 465,057. The firm has a market cap of $24.50 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The firm's fifty day moving average price is $363.75 and its 200-day moving average price is $352.17. 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 - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.