Allspring Global Investments Holdings LLC Purchases 3,504 Shares of Corpay, Inc. (NYSE:CPAY)

Allspring Global Investments Holdings LLC raised its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,732 shares of the company's stock after acquiring an additional 3,504 shares during the period. Allspring Global Investments Holdings LLC's holdings in Corpay were worth $8,067,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPAY. Compound Global Advisors LLC acquired a new position in Corpay during the 4th quarter worth approximately $774,000. 17 Capital Partners LLC increased its position in Corpay by 21.5% during the 4th quarter. 17 Capital Partners LLC now owns 2,652 shares of the company's stock worth $897,000 after purchasing an additional 470 shares during the period. Empowered Funds LLC increased its position in Corpay by 453.9% during the 4th quarter. Empowered Funds LLC now owns 6,259 shares of the company's stock worth $2,118,000 after purchasing an additional 5,129 shares during the period. Hendershot Investments Inc. increased its position in Corpay by 2.0% during the 4th quarter. Hendershot Investments Inc. now owns 32,873 shares of the company's stock worth $11,125,000 after purchasing an additional 633 shares during the period. Finally, William Allan Corp acquired a new position in Corpay during the 4th quarter worth approximately $402,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction 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 transaction, the director now directly 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 SEC, which can be accessed through this link. Company insiders own 6.10% of the company's stock.

Corpay Price Performance

CPAY traded down $5.33 during trading on Friday, reaching $363.66. The stock had a trading volume of 341,615 shares, compared to its average volume of 445,371. The firm has a market capitalization of $25.35 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The stock has a 50 day moving average of $362.83 and a two-hundred day moving average of $341.54.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, equities analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on CPAY shares. Raymond James dropped their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods upped their price target on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company upped their price target on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Citigroup initiated coverage on Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price target on the stock. Finally, Wolfe Research upgraded 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. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Corpay presently has an average rating of "Moderate Buy" and an average price target of $399.71.

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.