Mawer Investment Management Ltd. Has $394.91 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Mawer Investment Management Ltd. reduced its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,166,931 shares of the company’s stock after selling 6,307 shares during the quarter. Corpay accounts for about 1.8% of Mawer Investment Management Ltd.’s holdings, making the stock its 18th biggest holding. Mawer Investment Management Ltd.’s holdings in Corpay were worth $394,913,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CPAY. Vanguard Group Inc. lifted its stake in shares of Corpay by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after acquiring an additional 120,688 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Corpay by 2.3% in the 3rd 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 in the last quarter. Boston Partners raised its position in Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company’s stock valued at $694,847,000 after purchasing an additional 122,380 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after purchasing an additional 23,275 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Corpay during the fourth quarter worth about $241,739,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. 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 report on Wednesday, January 8th. Citigroup began coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. BMO Capital Markets increased their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Finally, Royal Bank of Canada upped their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Insider Transactions at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.10% of the company’s stock.

Corpay Price Performance

Shares of CPAY opened at $346.79 on Friday. The firm has a market cap of $24.36 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52-week low of $247.10 and a 52-week 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 business’s 50 day moving average price is $363.75 and its two-hundred day moving average price is $351.85.

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

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.