Geode Capital Management LLC Acquires 54,894 Shares of Corpay, Inc. (NYSE:CPAY)

Geode Capital Management LLC lifted its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 3.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,732,793 shares of the company's stock after acquiring an additional 54,894 shares during the period. Geode Capital Management LLC owned 2.49% of Corpay worth $584,962,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CPAY. Avion Wealth raised its holdings in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of 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 acquiring an additional 60 shares in the last quarter. Quarry LP purchased a new position in Corpay during the 3rd quarter valued at about $42,000. Spire Wealth Management bought a new stake in Corpay during the fourth quarter worth about $42,000. Finally, Assetmark Inc. grew its holdings in Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after purchasing an additional 60 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

NYSE CPAY traded up $39.87 during trading hours on Wednesday, hitting $322.94. 778,532 shares of the company's stock traded hands, compared to its average volume of 482,530. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The firm has a market capitalization of $22.69 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.32 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The business's fifty day moving average price is $351.27 and its two-hundred day moving average price is $352.10.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 EPS 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%. Equities research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CPAY shares. Wolfe Research raised Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target on shares of Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Raymond James lowered their price objective on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Citigroup assumed coverage on Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price target on the stock. Three 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 stock. According to MarketBeat, Corpay has a consensus rating of "Moderate Buy" and an average target price of $401.54.

Insider Transactions at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.10% of the company's stock.

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.