Corpay, Inc. (NYSE:CPAY) Shares Sold by Fmr LLC

FMR LLC reduced its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 40.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,605,177 shares of the company's stock after selling 1,087,670 shares during the quarter. FMR LLC owned approximately 2.30% of Corpay worth $543,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avion Wealth lifted its holdings in shares of Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc raised its position in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company's stock valued at $36,000 after purchasing an additional 60 shares during the period. Quarry LP acquired a new position in Corpay during the third quarter worth $42,000. Spire Wealth Management purchased a new position in shares of Corpay during the fourth quarter worth $42,000. Finally, Assetmark Inc. grew its stake in shares of Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after buying an additional 60 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several research reports. Keefe, Bruyette & Woods lifted their target price on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price objective 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. Citigroup initiated coverage on shares of Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 target price on the stock. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley lifted their target price on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Corpay has an average rating of "Moderate Buy" and a consensus target price of $400.38.

Insider Activity at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the firm'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 completion of the sale, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is currently owned by insiders.

Corpay Stock Performance

Shares of NYSE CPAY traded up $6.41 during trading hours on Monday, reaching $311.89. The stock had a trading volume of 47,616 shares, compared to its average volume of 482,278. The firm has a market cap of $21.91 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.32 and a beta of 1.11. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a 50-day moving average of $348.19 and a 200-day moving average of $352.36. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. Equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.