Raymond James Financial Inc. Purchases New Position in Corpay, Inc. (NYSE:CPAY)

Raymond James Financial Inc. purchased a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 398,766 shares of the company's stock, valued at approximately $134,950,000. Raymond James Financial Inc. owned approximately 0.57% of Corpay as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its position in Corpay by 16.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company's stock worth $69,000 after buying an additional 29 shares during the last quarter. Tealwood Asset Management Inc. grew its stake in shares of Corpay by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company's stock valued at $1,420,000 after acquiring an additional 30 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Corpay by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company's stock valued at $2,018,000 after acquiring an additional 30 shares during the period. IFP Advisors Inc grew its stake in shares of Corpay by 2.7% during the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company's stock valued at $390,000 after acquiring an additional 30 shares during the period. Finally, Lake Street Advisors Group LLC boosted its stake in Corpay by 3.5% in the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company's stock worth $318,000 after purchasing an additional 32 shares during the period. Institutional investors own 98.84% of the company's stock.

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Insiders Place Their Bets

In other news, Director Richard Macchia sold 2,427 shares of the firm's 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 completion of the transaction, the director now directly owns 12,215 shares in the company, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wolfe Research raised Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Morgan Stanley increased their target price on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods increased 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. Royal Bank of Canada increased their price target on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $399.71.

Corpay Stock Down 2.0 %

CPAY stock traded down $6.98 during trading on Friday, reaching $335.78. 850,856 shares of the company traded hands, compared to its average volume of 486,560. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The company has a market capitalization of $23.59 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The business has a 50 day simple moving average of $365.56 and a 200 day simple moving average of $347.77. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. On average, equities research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.