JPMorgan Chase & Co. Reduces Position in Corpay, Inc. (NYSE:CPAY)

JPMorgan Chase & Co. lowered its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 19.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,256,488 shares of the company's stock after selling 1,030,823 shares during the period. JPMorgan Chase & Co. owned 6.11% of Corpay worth $1,440,481,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CPAY. Pathstone Holdings LLC increased its stake in shares of Corpay by 3.9% during the third quarter. Pathstone Holdings LLC now owns 5,487 shares of the company's stock valued at $1,716,000 after purchasing an additional 206 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Corpay by 8.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,343 shares of the company's stock valued at $2,609,000 after buying an additional 678 shares during the last quarter. FMR LLC boosted its holdings in Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company's stock worth $842,215,000 after acquiring an additional 78,880 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Corpay in the third quarter worth $1,309,000. Finally, Brooklyn Investment Group bought a new position in shares of Corpay during the third quarter valued at $48,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CPAY. Raymond James cut their price objective on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. BMO Capital Markets increased their price target on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective for the company in a report on Wednesday, January 8th. Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Finally, 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 report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Corpay currently has an average rating of "Moderate Buy" and a consensus price target of $399.71.

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Corpay Price Performance

Shares of CPAY stock traded down $0.01 on Monday, hitting $346.68. 339,557 shares of the stock traded hands, compared to its average volume of 473,124. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.32 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $363.75 and a two-hundred day simple moving average of $352.17. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results 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 return on equity of 41.46% and a net margin of 25.25%. As a group, equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Corpay

In other 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 value of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is currently owned by insiders.

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.