Wells Fargo & Company MN Sells 12,871 Shares of Corpay, Inc. (NYSE:CPAY)

Wells Fargo & Company MN decreased its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 5.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 220,298 shares of the company's stock after selling 12,871 shares during the quarter. Wells Fargo & Company MN owned 0.32% of Corpay worth $74,553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Centiva Capital LP purchased a new stake in shares of Corpay in the third quarter valued at $334,000. HighTower Advisors LLC lifted its position in shares of Corpay by 1.0% in the third quarter. HighTower Advisors LLC now owns 22,983 shares of the company's stock worth $7,179,000 after purchasing an additional 217 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Corpay by 14.8% during the third quarter. Janus Henderson Group PLC now owns 7,861 shares of the company's stock worth $2,460,000 after purchasing an additional 1,014 shares during the period. Quarry LP purchased a new position in Corpay during the third quarter valued at approximately $42,000. Finally, Quantinno Capital Management LP increased its stake in Corpay by 23.8% in the 3rd quarter. Quantinno Capital Management LP now owns 9,250 shares of the company's stock valued at $2,893,000 after buying an additional 1,777 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Insider Activity at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the company'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 completion of the transaction, the director now owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

Corpay Price Performance

NYSE:CPAY traded up $5.65 during mid-day trading on Monday, reaching $311.13. 36,875 shares of the company were exchanged, compared to its average volume of 482,244. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The company has a fifty day moving average of $348.19 and a 200 day moving average of $352.36. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The stock has a market cap of $21.86 billion, a PE ratio of 22.26, a PEG ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data 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, research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CPAY. Wells Fargo & Company boosted their price target on shares of Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Raymond James cut their price objective on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Morgan Stanley increased their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Barclays reduced their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $400.38.

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.