Intact Investment Management Inc. Has $1.32 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Intact Investment Management Inc. grew its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 77.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900 shares of the company's stock after buying an additional 1,700 shares during the quarter. Intact Investment Management Inc.'s holdings in Corpay were worth $1,320,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPAY. Janney Montgomery Scott LLC lifted its position in Corpay by 4.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,863 shares of the company's stock worth $895,000 after buying an additional 111 shares in the last quarter. Apollon Wealth Management LLC lifted its position in Corpay by 4.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,385 shares of the company's stock worth $433,000 after buying an additional 57 shares in the last quarter. Victory Capital Management Inc. lifted its position in Corpay by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 154,698 shares of the company's stock worth $48,383,000 after buying an additional 1,339 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company's stock worth $1,842,000 after buying an additional 2,355 shares in the last quarter. Finally, Huntington National Bank lifted its position in Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company's stock worth $42,000 after buying an additional 40 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

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Corpay Stock Performance

Shares of NYSE:CPAY traded up $5.36 on Wednesday, reaching $352.52. 333,941 shares of the company's stock were exchanged, compared to its average volume of 460,531. The company has a fifty day moving average of $364.75 and a 200-day moving average of $349.66. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The company has a market capitalization of $24.76 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.32 and a beta of 1.25. 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 earnings per share (EPS) 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%. On average, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CPAY shares. Citigroup started coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 target price on the stock. Wolfe Research raised shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price on the stock in a report on Wednesday, January 8th. Wells Fargo & Company upped their target price on shares of Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Morgan Stanley upped their target price on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, BMO Capital Markets upped their target price on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $399.71.

Insiders Place Their Bets

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 transaction of $910,683.21. Following 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 SEC, which is accessible through this link. Company insiders own 6.10% of the company's stock.

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.