FIL Ltd Takes Position in Corpay, Inc. (NYSE:CPAY)

FIL Ltd purchased a new stake in Corpay, Inc. (NYSE:CPAY) in the 4th quarter, HoldingsChannel reports. The firm purchased 76,548 shares of the company’s stock, valued at approximately $25,905,000.

A number of other hedge funds have also recently added to or reduced their stakes in CPAY. Janus Henderson Group PLC grew its position in Corpay by 14.8% in the third quarter. Janus Henderson Group PLC now owns 7,861 shares of the company’s stock worth $2,460,000 after acquiring an additional 1,014 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Corpay by 1.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 26,675 shares of the company’s stock valued at $8,343,000 after purchasing an additional 291 shares during the last quarter. Continuum Advisory LLC boosted its holdings in Corpay by 47.9% in the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock worth $44,000 after purchasing an additional 46 shares in the last quarter. Geode Capital Management LLC increased its position in Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after buying an additional 23,275 shares during the last quarter. Finally, TCW Group Inc. raised its holdings in Corpay by 6.3% during the third quarter. TCW Group Inc. now owns 18,692 shares of the company’s stock valued at $5,846,000 after buying an additional 1,113 shares in 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 analyst reports. Royal Bank of Canada increased their price objective 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 lowered their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Citigroup started coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. 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 research note on Wednesday, January 8th. Finally, Wells Fargo & Company lifted 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. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $401.54.

Corpay Stock Down 6.8 %

NYSE CPAY opened at $300.01 on Friday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. 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 cap of $21.08 billion, a PE ratio of 21.46, a PEG ratio of 1.32 and a beta of 1.11. The firm has a 50-day simple moving average of $349.68 and a 200 day simple moving average of $352.04.

Corpay (NYSE:CPAY) 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 forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Buying and Selling at Corpay

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.

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.