Kayne Anderson Rudnick Investment Management LLC Sells 4,637 Shares of Corpay, Inc. (NYSE:CPAY)

Kayne Anderson Rudnick Investment Management LLC reduced its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,307 shares of the company's stock after selling 4,637 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.14% of Corpay worth $33,607,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Corpay by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock valued at $2,623,702,000 after purchasing an additional 120,688 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock valued at $1,653,659,000 after acquiring an additional 120,578 shares in the last quarter. Boston Partners lifted its position in shares of Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company's stock worth $694,847,000 after purchasing an additional 122,380 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Corpay by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company's stock worth $584,962,000 after purchasing an additional 54,894 shares during the period. Finally, Invesco Ltd. increased its stake in Corpay by 163.7% in the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock valued at $570,801,000 after buying an additional 1,047,080 shares during the period. Institutional investors and hedge funds own 98.84% of the company's stock.

Insiders Place Their Bets

In other news, Director Richard Macchia sold 2,427 shares of the firm'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 completion of the sale, the director now directly owns 12,215 shares in the company, 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 filing with the SEC, which is available through this link. Insiders own 6.10% of the company's stock.

Corpay Price Performance

CPAY traded up $0.50 during midday trading on Friday, reaching $322.39. 207,676 shares of the company's stock were exchanged, compared to its average volume of 482,135. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81. The firm has a market capitalization of $22.65 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. The business has a 50-day simple moving average of $334.94 and a two-hundred day simple moving average of $351.20. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. As a group, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Citigroup initiated coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a "buy" rating and a $430.00 target price for the company. 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 research report on Wednesday, January 8th. Morgan Stanley upped their target price on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price objective on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Corpay currently has a consensus rating of "Moderate Buy" and a consensus target price of $397.62.

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.