Teacher Retirement System of Texas purchased a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,425 shares of the company's stock, valued at approximately $2,851,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CPAY. Pathstone Holdings LLC increased its holdings in Corpay by 3.9% in the third quarter. Pathstone Holdings LLC now owns 5,487 shares of the company's stock valued at $1,716,000 after buying an additional 206 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Corpay by 32.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,334 shares of the company's stock valued at $1,981,000 after purchasing an additional 1,546 shares in the last quarter. Cerity Partners LLC raised its holdings in Corpay by 17.3% during the third quarter. Cerity Partners LLC now owns 29,310 shares of the company's stock worth $9,167,000 after purchasing an additional 4,315 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Corpay by 8.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,343 shares of the company's stock worth $2,609,000 after purchasing an additional 678 shares in the last quarter. Finally, FMR LLC grew its holdings in Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company's stock valued at $842,215,000 after purchasing an additional 78,880 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on CPAY shares. BMO Capital Markets upped their price target on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Raymond James cut their price target on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. Keefe, Bruyette & Woods increased their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on shares of Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Three 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $399.71.
Check Out Our Latest Stock Analysis on CPAY
Corpay Trading Down 2.2 %
Shares of CPAY traded down $7.68 during mid-day trading on Friday, reaching $347.56. The company had a trading volume of 73,155 shares, compared to its average volume of 472,267. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a fifty day simple moving average of $364.23 and a 200-day simple moving average of $351.29. The stock has a market cap of $24.42 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.
Corpay (NYSE:CPAY - Get Free Report) last issued its 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, sell-side analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.
Insider Transactions at Corpay
In related news, Director Richard Macchia sold 2,427 shares of Corpay 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 transaction, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.10% of the company's stock.
Corpay Company Profile
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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.
Further Reading
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