abrdn plc Sells 3,458 Shares of Corpay, Inc. (NYSE:CPAY)

abrdn plc cut its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,385 shares of the company's stock after selling 3,458 shares during the period. abrdn plc's holdings in Corpay were worth $6,590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after purchasing an additional 120,578 shares during the period. FMR LLC raised its position in shares of Corpay by 3.0% during the third quarter. FMR LLC now owns 2,692,847 shares of the company's stock worth $842,215,000 after purchasing an additional 78,880 shares during the period. Geode Capital Management LLC raised its position in Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company's stock valued at $523,061,000 after buying an additional 23,275 shares during the period. Charles Schwab Investment Management Inc. raised its position in Corpay by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company's stock valued at $143,393,000 after buying an additional 1,749 shares during the period. Finally, Eagle Asset Management Inc. raised its position in Corpay by 2.4% during the third quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company's stock valued at $111,779,000 after buying an additional 8,378 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the sale, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. This represents a 81.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Macchia sold 2,427 shares of the 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 of the company's stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CPAY shares. Barclays upped their price target on Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Jefferies Financial Group upped their price target on Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price target on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Raymond James dropped their price target on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup assumed coverage on Corpay in a research report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 target price on the stock. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $399.71.

Corpay Stock Down 0.5 %

Shares of CPAY traded down $1.71 during trading hours on Wednesday, hitting $367.50. 346,225 shares of the company were exchanged, compared to its average volume of 458,690. The company has a market cap of $25.62 billion, a PE ratio of 26.29, a PEG ratio of 1.33 and a beta of 1.28. The firm's 50 day moving average is $361.34 and its 200-day moving average is $338.04. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. 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 released its quarterly earnings results 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%. On average, equities research analysts forecast that Corpay, Inc. will post 20.62 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.