Envestnet Asset Management Inc. Boosts Stake in Corpay, Inc. (NYSE:CPAY)

Envestnet Asset Management Inc. boosted its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,672 shares of the company's stock after acquiring an additional 7,881 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Corpay worth $26,286,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CPAY. Avion Wealth grew its position in Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the period. Versant Capital Management Inc raised its holdings in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 60 shares during the period. Spire Wealth Management bought a new stake in Corpay during the fourth quarter valued at about $42,000. Assetmark Inc. raised its stake in shares of Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after buying an additional 60 shares during the period. Finally, Synergy Asset Management LLC bought a new position in shares of Corpay during the 4th quarter valued at approximately $43,000. Institutional investors own 98.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPAY. Wells Fargo & Company increased their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Raymond James dropped their price target on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Morgan Stanley upped their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Finally, Barclays decreased their price target on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Corpay presently has a consensus rating of "Moderate Buy" and an average price target of $400.38.

Corpay Trading Up 0.5 %

NYSE CPAY traded up $1.62 on Friday, hitting $308.39. 353,820 shares of the stock were exchanged, compared to its average volume of 482,775. The stock has a fifty day moving average price of $342.35 and a two-hundred day moving average price of $351.72. The firm has a market capitalization of $21.66 billion, a P/E ratio of 22.06, 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 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.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data 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%. Research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Activity at Corpay

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 transaction of $910,683.21. Following the completion of the sale, the director now directly owns 12,215 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is owned by company insiders.

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.