Corpay, Inc. (NYSE:CPAY) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in Corpay, Inc. (NYSE:CPAY) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,672 shares of the company’s stock after buying an additional 7,881 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Corpay were worth $26,286,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Corpay by 17.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock valued at $8,067,000 after purchasing an additional 3,504 shares during the period. Crossmark Global Holdings Inc. grew its holdings in Corpay by 70.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company’s stock valued at $1,689,000 after purchasing an additional 2,059 shares in the last quarter. Radnor Capital Management LLC acquired a new stake in Corpay during the 4th quarter valued at $3,667,000. Nisa Investment Advisors LLC increased its stake in Corpay by 68.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company’s stock worth $1,342,000 after buying an additional 1,611 shares during the period. Finally, Journey Strategic Wealth LLC acquired a new position in Corpay in the 4th quarter worth $499,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Price Performance

Shares of NYSE CPAY opened at $304.96 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 firm has a market capitalization of $21.42 billion, a PE ratio of 21.81, a P/E/G ratio of 1.32 and a beta of 1.11. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The business’s fifty day moving average price is $348.19 and its two-hundred day moving average price is $352.04.

Corpay (NYSE:CPAY) last issued 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 net margin of 25.25% and a return on equity of 41.46%. On average, research analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Royal Bank of Canada boosted their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Morgan Stanley increased their price target 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. Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price objective on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Corpay has a consensus rating of “Moderate Buy” and an average price target of $401.54.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction dated 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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.