Wellington Management Group LLP Sells 1,882,498 Shares of Corpay, Inc. (NYSE:CPAY)

Wellington Management Group LLP decreased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 65.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 975,607 shares of the company's stock after selling 1,882,498 shares during the period. Wellington Management Group LLP owned approximately 1.39% of Corpay worth $330,165,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

CPAY has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods boosted their target price 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 Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target for the company in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their price objective on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Finally, Raymond James dropped their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $401.54.

Corpay Trading Down 9.4 %

Shares of CPAY traded down $29.83 during mid-day trading on Friday, reaching $287.80. 1,091,078 shares of the company were exchanged, compared to its average volume of 477,907. The business has a 50 day simple moving average of $359.52 and a two-hundred day simple moving average of $353.09. 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 $20.22 billion, a PE ratio of 20.59, a PEG ratio of 1.32 and a beta of 1.11. 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 released 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, analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the transaction, the director now directly 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 ownership of the stock. 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 company 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.