Corpay, Inc. (NYSE:CPAY) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,316 shares of the company's stock after selling 3,622 shares during the quarter. California Public Employees Retirement System owned 0.18% of Corpay worth $42,071,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in Corpay by 17.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock valued at $8,067,000 after acquiring an additional 3,504 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Corpay by 70.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock valued at $1,689,000 after purchasing an additional 2,059 shares in the last quarter. Radnor Capital Management LLC acquired a new position in shares of Corpay in the 4th quarter valued at $3,667,000. Vestcor Inc boosted its holdings in Corpay by 239.5% during the third quarter. Vestcor Inc now owns 7,088 shares of the company's stock worth $2,217,000 after buying an additional 5,000 shares in the last quarter. Finally, Maven Securities LTD grew its position in Corpay by 70.0% during the third quarter. Maven Securities LTD now owns 4,250 shares of the company's stock valued at $1,329,000 after buying an additional 1,750 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CPAY. Raymond James decreased their price objective on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. BMO Capital Markets upped their price target on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price objective on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company increased their target price on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $401.54.

Corpay Price Performance

CPAY traded down $0.48 on Monday, reaching $288.09. 933,596 shares of the company's stock were exchanged, compared to its average volume of 479,722. The stock has a market cap of $20.24 billion, a PE ratio of 20.61, a P/E/G 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, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The stock's fifty day moving average price is $357.68 and its 200-day moving average price is $352.91.

Corpay (NYSE:CPAY - Get Free Report) last issued its 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%. Sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business's stock in a transaction dated 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 in the company, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 6.10% of the company's stock.

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.