76,548 Shares in Corpay, Inc. (NYSE:CPAY) Bought by FIL Ltd

FIL Ltd acquired a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 76,548 shares of the company's stock, valued at approximately $25,905,000. FIL Ltd owned approximately 0.11% of Corpay at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Corpay by 17.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock valued at $8,067,000 after purchasing an additional 3,504 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Corpay by 70.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock valued at $1,689,000 after buying an additional 2,059 shares in the last quarter. Radnor Capital Management LLC acquired a new stake in shares of Corpay during the fourth quarter worth approximately $3,667,000. Nisa Investment Advisors LLC raised its stake in shares of Corpay by 68.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company's stock valued at $1,342,000 after acquiring an additional 1,611 shares during the last quarter. Finally, Journey Strategic Wealth LLC acquired a new position in shares of Corpay in the 4th quarter worth approximately $499,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Down 0.6 %

Shares of Corpay stock traded down $1.98 during trading hours on Wednesday, reaching $310.86. 55,009 shares of the company's stock were exchanged, compared to its average volume of 480,923. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The stock has a market cap of $21.84 billion, a P/E ratio of 22.24, 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 company has a 50 day moving average of $345.06 and a two-hundred day moving average of $352.07.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results 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 fiscal year.

Analysts Set New Price Targets

CPAY has been the subject of several research analyst reports. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective for the company in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods raised their price target on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company upped their price target on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Barclays dropped their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Monday. Finally, Royal Bank of Canada increased 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. Three research 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $400.38.

Insider Activity

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company's 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 of the company's stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 6.10% of the company's stock.

About Corpay

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.