By otakuyassine3@gmail.com 
Allworth Financial LP lifted its position in Corpay, Inc. (NYSE:CPAY – Free Report) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 487 shares of the company’s stock after buying an additional 44 shares during the quarter. Allworth Financial LP’s holdings in Corpay were worth $182,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares during the last quarter. FMR LLC increased its position in shares of Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after purchasing an additional 78,880 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Corpay by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after purchasing an additional 23,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Corpay by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after purchasing an additional 1,749 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in shares of Corpay by 2.4% in the third quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock worth $111,779,000 after purchasing an additional 8,378 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.
Corpay Stock Down 1.4 %
Shares of Corpay stock opened at $363.66 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The stock has a market capitalization of $25.35 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 1.32 and a beta of 1.28. The company’s 50 day moving average price is $362.96 and its 200-day moving average price is $342.71.
Corpay (NYSE:CPAY – Get Free Report) last announced its quarterly 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%. Equities research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms recently weighed in on CPAY. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company upped their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. BMO Capital Markets increased their price target on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Barclays increased their price target on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.
Insider Buying and Selling
In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction 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. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.10% of the stock is currently 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.
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