Corpay, Inc. (NYSE:CPAY) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,840,818 shares of the company's stock after acquiring an additional 1,000,699 shares during the period. Price T Rowe Associates Inc. MD owned approximately 8.38% of Corpay worth $1,976,651,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CPAY. Wilmington Savings Fund Society FSB purchased a new stake in Corpay in the third quarter valued at approximately $364,000. Tidal Investments LLC grew its stake in shares of Corpay by 1.5% in the third quarter. Tidal Investments LLC now owns 4,641 shares of the company's stock valued at $1,452,000 after buying an additional 68 shares in the last quarter. Peapack Gladstone Financial Corp raised its holdings in shares of Corpay by 0.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 40,416 shares of the company's stock valued at $12,640,000 after buying an additional 113 shares during the period. American Trust acquired a new position in Corpay during the 3rd quarter worth about $719,000. Finally, Principal Financial Group Inc. boosted its holdings in Corpay by 2.6% during the 3rd quarter. Principal Financial Group Inc. now owns 86,539 shares of the company's stock valued at $27,066,000 after acquiring an additional 2,175 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction on Monday, February 10th. The shares were 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 owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Barclays reduced their target price on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Raymond James dropped their price target on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company reduced their price objective on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research note on Thursday. Finally, Keefe, Bruyette & Woods boosted their target price on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.62.

Corpay Stock Up 0.2 %

Shares of NYSE CPAY traded up $0.50 during mid-day trading on Friday, reaching $322.39. The company had a trading volume of 207,676 shares, compared to its average volume of 482,135. The firm has a 50 day simple moving average of $334.94 and a two-hundred day simple moving average of $351.20. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock has a market cap of $22.65 billion, a P/E ratio of 23.06, a PEG ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (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%. Sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Corpay Company 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.