JPMorgan Chase & Co. Sells 1,030,823 Shares of Corpay, Inc. (NYSE:CPAY)

JPMorgan Chase & Co. cut its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 19.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,256,488 shares of the company's stock after selling 1,030,823 shares during the quarter. JPMorgan Chase & Co. owned 6.11% of Corpay worth $1,440,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPAY. Allspring Global Investments Holdings LLC boosted its position in shares of Corpay by 17.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock worth $8,067,000 after acquiring an additional 3,504 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Corpay by 70.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock valued at $1,689,000 after purchasing an additional 2,059 shares in the last quarter. Radnor Capital Management LLC bought a new position in shares of Corpay in the 4th quarter valued at $3,667,000. Vestcor Inc raised its holdings in shares of Corpay by 239.5% during the 3rd quarter. Vestcor Inc now owns 7,088 shares of the company's stock worth $2,217,000 after buying an additional 5,000 shares in the last quarter. Finally, Maven Securities LTD lifted its position in shares of Corpay by 70.0% during the 3rd quarter. Maven Securities LTD now owns 4,250 shares of the company's stock worth $1,329,000 after buying an additional 1,750 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank of Canada lifted their target price on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Raymond James lowered their price objective on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Morgan Stanley raised their target price on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price target on shares of Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Finally, BMO Capital Markets raised their price objective on Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Friday, December 13th. 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. According to data from MarketBeat.com, Corpay currently has a consensus rating of "Moderate Buy" and an average price target of $399.71.

Corpay Stock Up 0.7 %

NYSE CPAY traded up $2.33 on Tuesday, reaching $351.05. The company had a trading volume of 139,518 shares, compared to its average volume of 473,672. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $24.66 billion, a P/E ratio of 25.11, a P/E/G ratio of 1.32 and a beta of 1.25. The company's fifty day moving average is $363.31 and its 200 day moving average is $352.48. 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 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 net margin of 25.25% and a return on equity of 41.46%. Sell-side analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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 stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the sale, the director now directly owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.