T. Rowe Price Investment Management Inc. Boosts Stock Position in Corpay, Inc. (NYSE:CPAY)

T. Rowe Price Investment Management Inc. boosted its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,949,913 shares of the company's stock after purchasing an additional 20,937 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.80% of Corpay worth $659,890,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Avion Wealth raised its holdings in shares of Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. Versant Capital Management Inc increased its position in Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company's stock valued at $36,000 after purchasing an additional 60 shares during the period. Spire Wealth Management bought a new position in Corpay in the 4th quarter worth $42,000. Assetmark Inc. lifted its position in shares of Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after purchasing an additional 60 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Corpay by 70.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock valued at $45,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CPAY. Royal Bank of Canada increased their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Raymond James lowered their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Barclays dropped their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company raised their price objective on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $400.38.

Corpay Stock Up 3.3 %

Shares of Corpay stock opened at $308.02 on Wednesday. The company has a 50-day simple moving average of $338.56 and a two-hundred day simple moving average of $351.62. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. 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 stock has a market capitalization of $21.64 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11.

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

Insiders Place Their Bets

In related news, Director Richard Macchia sold 2,427 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were 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 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 document filed with the SEC, which can be accessed through the SEC website. 6.10% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding CPAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corpay, Inc. (NYSE:CPAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.