Cerity Partners LLC Has $10.54 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Cerity Partners LLC raised its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 7.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 31,443 shares of the company's stock after purchasing an additional 2,133 shares during the period. Cerity Partners LLC's holdings in Corpay were worth $10,542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CPAY. Federated Hermes Inc. increased its holdings in Corpay by 6,150.0% in the fourth quarter. Federated Hermes Inc. now owns 250 shares of the company's stock valued at $85,000 after buying an additional 246 shares during the last quarter. Unigestion Holding SA bought a new stake in Corpay during the fourth quarter valued at $846,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Corpay during the fourth quarter worth $136,000. Envestnet Asset Management Inc. lifted its position in shares of Corpay by 11.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 77,672 shares of the company's stock worth $26,286,000 after buying an additional 7,881 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Corpay in the 4th quarter worth about $1,499,000. Institutional investors own 98.84% of the company's stock.

Corpay Price Performance

CPAY traded down $1.16 during trading on Wednesday, reaching $311.68. The stock had a trading volume of 51,095 shares, compared to its average volume of 486,590. The stock has a 50 day moving average of $345.06 and a two-hundred day moving average of $352.07. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data 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 net margin of 25.25% and a return on equity of 41.46%. As a group, equities analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Citigroup started coverage on Corpay in a research report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price objective for the company. Morgan Stanley upped their price objective on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods raised their target price on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Three research 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 stock has a consensus rating of "Moderate Buy" and an average price target of $400.38.

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.