Adage Capital Partners GP L.L.C. Trims Stake in Corpay, Inc. (NYSE:CPAY)

Adage Capital Partners GP L.L.C. lowered its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,658 shares of the company's stock after selling 7,800 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Corpay worth $26,281,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Corpay by 206.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,647 shares of the company's stock valued at $1,234,000 after purchasing an additional 2,455 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Corpay by 1.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after buying an additional 20,937 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after buying an additional 1,000,699 shares during the period. Van Lanschot Kempen Investment Management N.V. bought a new stake in Corpay in the 4th quarter worth $116,179,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Corpay by 126.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,485 shares of the company's stock valued at $2,195,000 after acquiring an additional 3,622 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Insider Activity

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the transaction, the director now owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CPAY has been the subject of a number of analyst reports. Citigroup started coverage on shares of Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 target price for the company. Morgan Stanley increased their price objective on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Raymond James reduced their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target on the stock in a report on Wednesday, January 8th. Finally, Barclays reduced their price objective on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Corpay has an average rating of "Moderate Buy" and an average target price of $397.62.

Corpay Stock Up 2.2 %

Corpay stock traded up $7.06 during mid-day trading on Tuesday, reaching $323.92. The stock had a trading volume of 571,384 shares, compared to its average volume of 483,873. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81. The company has a 50-day moving average price of $333.71 and a two-hundred day moving average price of $351.26. The company has a market capitalization of $22.76 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.32 and a beta of 1.11. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY - Get Free Report) last posted 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%. On average, analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.