Canada Pension Plan Investment Board Has $20.11 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Canada Pension Plan Investment Board decreased its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,432 shares of the company's stock after selling 7,422 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.09% of Corpay worth $20,113,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of Corpay by 163.7% in the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock valued at $570,801,000 after buying an additional 1,047,080 shares during the last quarter. Norges Bank acquired a new stake in Corpay in the 4th quarter valued at approximately $241,739,000. Raymond James Financial Inc. acquired a new position in Corpay during the 4th quarter worth about $134,950,000. Neuberger Berman Group LLC boosted its stake in shares of Corpay by 8,620.5% in the fourth quarter. Neuberger Berman Group LLC now owns 140,400 shares of the company's stock valued at $47,514,000 after purchasing an additional 138,790 shares during the period. Finally, Boston Partners grew its stake in shares of Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company's stock worth $694,847,000 after acquiring an additional 122,380 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup initiated coverage on shares of Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their price target on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Barclays dropped their target price on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Royal Bank of Canada raised their target price on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $400.38.

Insider Buying and Selling

In other news, Director Richard Macchia sold 2,427 shares of the business'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 sale, the director now owns 12,215 shares of the company's stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.10% of the stock is owned by insiders.

Corpay Stock Up 2.4 %

Shares of CPAY traded up $7.50 during trading hours on Wednesday, hitting $315.27. 369,650 shares of the company were exchanged, compared to its average volume of 482,702. The firm's 50 day moving average is $338.56 and its 200-day moving average is $351.62. 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, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a market cap of $22.15 billion, a PE ratio of 22.55, a PEG ratio of 1.32 and a beta of 1.11.

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 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%. On average, equities research analysts forecast that Corpay, Inc. will post 19.76 EPS 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.