Victory Capital Management Inc. Grows Stock Position in Corpay, Inc. (NYSE:CPAY)

Victory Capital Management Inc. boosted its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 26.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,496 shares of the company's stock after purchasing an additional 40,798 shares during the quarter. Victory Capital Management Inc. owned about 0.28% of Corpay worth $66,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Mainstream Capital Management LLC purchased a new position in shares of Corpay during the fourth quarter worth approximately $122,000. Charles Schwab Investment Management Inc. raised its stake in shares of Corpay by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company's stock worth $160,904,000 after acquiring an additional 16,981 shares in the last quarter. Schechter Investment Advisors LLC raised its stake in shares of Corpay by 5.8% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,040 shares of the company's stock worth $690,000 after acquiring an additional 112 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Corpay by 28.6% during the fourth quarter. Jones Financial Companies Lllp now owns 809 shares of the company's stock worth $274,000 after acquiring an additional 180 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Corpay by 33.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 438 shares of the company's stock worth $148,000 after acquiring an additional 109 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business'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 owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CPAY shares. Keefe, Bruyette & Woods lifted their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price on the stock in a report on Wednesday, January 8th. Wells Fargo & Company raised their target price on shares of Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. BMO Capital Markets raised their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Royal Bank of Canada raised their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a 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 MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $399.71.

Corpay Stock Down 2.0 %

Shares of CPAY traded down $6.98 during trading hours on Friday, hitting $335.78. The company had a trading volume of 850,856 shares, compared to its average volume of 486,560. The firm has a fifty day moving average price of $365.56 and a 200-day moving average price of $347.77. 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 $23.59 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81.

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 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 forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal 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.