American Century Companies Inc. Raises Stake in Corpay, Inc. (NYSE:CPAY)

American Century Companies Inc. raised its position in Corpay, Inc. (NYSE:CPAY) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 458,868 shares of the company’s stock after acquiring an additional 44,190 shares during the quarter. American Century Companies Inc.’s holdings in Corpay were worth $155,290,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Avion Wealth lifted its stake in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc lifted its stake in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares during the last quarter. Quarry LP purchased a new position in Corpay in the third quarter worth approximately $42,000. Spire Wealth Management purchased a new position in Corpay in the fourth quarter worth approximately $42,000. Finally, Assetmark Inc. lifted its position in shares of Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of Corpay stock opened at $347.12 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The stock has a market capitalization of $24.38 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.32 and a beta of 1.25. The firm’s fifty day simple moving average is $364.50 and its 200-day simple moving average is $350.17. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81.

Corpay (NYSE:CPAY) last announced its quarterly earnings data 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 net margin of 25.25% and a return on equity of 41.46%. As a group, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Buying and Selling at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CPAY has been the subject of several recent analyst reports. Wells Fargo & Company boosted 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 boosted their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Raymond James reduced their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $399.71.

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.