Boston Partners Raises Holdings in Corpay, Inc. (NYSE:CPAY)

Boston Partners raised its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,045,398 shares of the company's stock after buying an additional 122,380 shares during the quarter. Corpay comprises about 0.8% of Boston Partners' holdings, making the stock its 21st largest position. Boston Partners owned 2.93% of Corpay worth $694,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPAY. Raymond James Financial Inc. purchased a new position in Corpay during the fourth quarter worth about $134,950,000. JPMorgan Chase & Co. boosted its holdings in shares of Corpay by 2.3% in the 3rd 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 in the last quarter. Prana Capital Management LP purchased a new position in shares of Corpay in the 3rd quarter worth about $31,541,000. Proficio Capital Partners LLC purchased a new position in shares of Corpay in the 4th quarter worth about $28,632,000. Finally, Swedbank AB boosted its holdings in shares of Corpay by 44.9% in the 4th quarter. Swedbank AB now owns 269,717 shares of the company's stock worth $91,278,000 after purchasing an additional 83,600 shares in the last quarter. 98.84% of the stock is currently 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 stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

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Analyst Ratings Changes

A number of research firms have recently issued reports on CPAY. 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. BMO Capital Markets upped their price objective on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Raymond James cut their price objective on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. Wells Fargo & Company upped their price objective on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Finally, Morgan Stanley boosted their target price on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $399.71.

Corpay Trading Down 1.6 %

CPAY traded down $5.70 during midday trading on Friday, reaching $347.12. 475,625 shares of the company's stock traded hands, compared to its average volume of 459,710. The firm has a fifty day moving average of $364.50 and a two-hundred day moving average of $349.92. The stock has a market capitalization of $24.38 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 1.32 and a beta of 1.25. 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, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81.

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

Corpay Company 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.