Intech Investment Management LLC purchased a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,563 shares of the company's stock, valued at approximately $867,000.
Several other institutional investors have also added to or reduced their stakes in CPAY. Raymond James Financial Inc. acquired a new stake in shares of Corpay in the fourth quarter valued at approximately $134,950,000. JPMorgan Chase & Co. boosted its stake in shares of Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after buying an additional 120,578 shares during the last quarter. Prana Capital Management LP bought a new position in shares of Corpay in the 3rd quarter valued at about $31,541,000. Proficio Capital Partners LLC acquired a new stake in shares of Corpay in the fourth quarter valued at about $28,632,000. Finally, Swedbank AB raised its holdings in Corpay by 44.9% during the fourth quarter. Swedbank AB now owns 269,717 shares of the company's stock worth $91,278,000 after acquiring an additional 83,600 shares in the last quarter. 98.84% of the stock is owned by institutional investors.
Corpay Price Performance
Shares of NYSE CPAY traded down $1.45 during trading hours on Thursday, hitting $355.94. 234,002 shares of the stock were exchanged, compared to its average volume of 458,567. The company's fifty day simple moving average is $364.52 and its two-hundred day simple moving average is $351.25. 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 1-year low of $247.10 and a 1-year high of $400.81. The company has a market cap of $25.00 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.
Corpay (NYSE:CPAY - Get Free Report) last issued 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 net margin of 25.25% and a return on equity of 41.46%. On average, sell-side analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.
Insider Transactions at Corpay
In other news, Director Richard Macchia sold 2,427 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was 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 in the company, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.10% of the company's stock.
Analysts Set New Price Targets
Several research analysts have weighed in on CPAY shares. Wells Fargo & Company boosted their price target on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. BMO Capital Markets lifted their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price target on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Finally, Morgan Stanley boosted their target price on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Three investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $399.71.
Read Our Latest Analysis on CPAY
Corpay Company Profile
(
Free Report)
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.
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