Distillate Capital Partners LLC Purchases New Position in Corpay, Inc. (NYSE:CPAY)

Distillate Capital Partners LLC bought a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 49,872 shares of the company's stock, valued at approximately $16,878,000. Distillate Capital Partners LLC owned 0.07% of Corpay as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Corpay by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock worth $2,623,702,000 after purchasing an additional 120,688 shares during the period. JPMorgan Chase & Co. increased its stake in Corpay by 2.3% during 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 during the period. Boston Partners raised its holdings in Corpay by 6.4% in the 4th 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. Geode Capital Management LLC lifted its position in shares of Corpay by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company's stock worth $584,962,000 after acquiring an additional 54,894 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Corpay by 163.7% during the 4th 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 in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Up 0.5 %

Shares of NYSE CPAY traded up $1.62 during midday trading on Thursday, reaching $308.39. The company's stock had a trading volume of 353,820 shares, compared to its average volume of 482,501. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The stock has a 50 day simple moving average of $343.68 and a 200-day simple moving average of $351.75. The stock has a market capitalization of $21.66 billion, a price-to-earnings ratio of 22.06, 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.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data 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 net margin of 25.25% and a return on equity of 41.46%. Equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CPAY shares. Morgan Stanley boosted their price target on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective for the company in a research report on Wednesday, January 8th. Barclays lowered their target price on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday. Wells Fargo & Company increased their price target on shares of Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price objective on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Corpay presently has an average rating of "Moderate Buy" and a consensus target price of $400.38.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of Corpay 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.10% of the stock is currently owned by insiders.

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.