Mizuho Securities USA LLC Buys 2,105 Shares of Corpay, Inc. (NYSE:CPAY)

Mizuho Securities USA LLC lifted its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 46.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,607 shares of the company's stock after buying an additional 2,105 shares during the quarter. Mizuho Securities USA LLC's holdings in Corpay were worth $2,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after purchasing an additional 120,578 shares in the last quarter. FMR LLC lifted its stake in Corpay by 3.0% during the third quarter. FMR LLC now owns 2,692,847 shares of the company's stock worth $842,215,000 after purchasing an additional 78,880 shares during the last quarter. Boston Partners boosted its holdings in 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 purchasing an additional 122,380 shares during the period. Geode Capital Management LLC increased its stake in Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company's stock valued at $523,061,000 after purchasing an additional 23,275 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Corpay by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company's stock worth $160,904,000 after purchasing an additional 16,981 shares during the period. Institutional investors own 98.84% of the company's stock.

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Analyst Ratings Changes

A number of research analysts recently issued reports on CPAY shares. Citigroup initiated 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. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Morgan Stanley boosted their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $399.71.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.10% of the company's stock.

Corpay Stock Performance

Shares of Corpay stock traded down $8.45 on Friday, reaching $346.79. The stock had a trading volume of 265,540 shares, compared to its average volume of 473,564. 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 fifty-two week low of $247.10 and a fifty-two week high of $400.81. The business's 50-day moving average price is $364.23 and its two-hundred day moving average price is $351.29. The stock has a market cap of $24.36 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

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 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%. On average, sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS 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.