Maridea Wealth Management LLC bought a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 724 shares of the company's stock, valued at approximately $245,000.
Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Corpay during the fourth quarter valued at $241,739,000. Raymond James Financial Inc. acquired a new stake in shares of Corpay during the 4th quarter worth about $134,950,000. Boston Partners lifted its holdings in Corpay by 6.4% during the 4th quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after purchasing an additional 122,380 shares during the last quarter. Vanguard Group Inc. boosted its position in 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 buying an additional 120,688 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Corpay by 2.3% during the third 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. Institutional investors and hedge funds own 98.84% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on CPAY shares. BMO Capital Markets lifted their target price on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective for the company in a research report on Wednesday, January 8th. Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They issued a "buy" rating and a $430.00 target price for the company. 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 research report on Thursday, January 16th. Finally, 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. Three investment 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 stock. Based on data from MarketBeat, Corpay presently has a consensus rating of "Moderate Buy" and an average target price of $399.71.
Get Our Latest Analysis on CPAY
Insider Buying and Selling
In related news, Director Richard Macchia sold 2,427 shares of Corpay 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 sale, the director now owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is currently owned by company insiders.
Corpay Trading Down 8.8 %
Shares of CPAY stock traded down $31.57 during trading hours on Thursday, reaching $326.95. The company had a trading volume of 129,061 shares, compared to its average volume of 473,764. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The company has a 50 day moving average of $362.55 and a 200 day moving average of $352.84. The firm has a market cap of $22.97 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 1.32 and a beta of 1.25.
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%. On average, equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current year.
About Corpay
(
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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