Prudential Financial Inc. Trims Holdings in Corpay, Inc. (NYSE:CPAY)

Prudential Financial Inc. decreased its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 12.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,355 shares of the company's stock after selling 5,094 shares during the quarter. Prudential Financial Inc. owned 0.05% of Corpay worth $11,965,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Corpay in the 4th quarter worth approximately $134,950,000. Boston Partners increased its position in shares of Corpay by 6.4% during the fourth quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after acquiring an additional 122,380 shares during the last quarter. Vanguard Group Inc. raised 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 purchasing an additional 120,688 shares during the period. JPMorgan Chase & Co. lifted 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 worth $1,653,659,000 after acquiring an additional 120,578 shares in the last quarter. Finally, Prana Capital Management LP purchased a new position in shares of Corpay in the third quarter valued at approximately $31,541,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Buying and Selling at Corpay

In related 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 transaction of $910,683.21. Following the completion of the transaction, the director now directly owns 12,215 shares in the company, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.10% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

CPAY has been the subject of several analyst reports. 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. Wolfe Research raised Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. Morgan Stanley upped their target price on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Raymond James dropped their price target on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Finally, Royal Bank of Canada increased 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 investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Corpay presently has an average rating of "Moderate Buy" and an average price target of $399.71.

Corpay Price Performance

Shares of NYSE CPAY traded up $1.99 during midday trading on Monday, hitting $348.68. The company had a trading volume of 818,776 shares, compared to its average volume of 474,939. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The business has a 50-day simple moving average of $363.75 and a two-hundred day simple moving average of $352.17. 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 posted its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) 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%. Equities research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

About Corpay

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.