Mercer Global Advisors Inc. ADV Lowers Position in Corpay, Inc. (NYSE:CPAY)

Mercer Global Advisors Inc. ADV decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 18.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,625 shares of the company’s stock after selling 2,246 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Corpay were worth $3,257,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CPAY. Vanguard Group Inc. lifted its position in Corpay by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after purchasing an additional 120,688 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock worth $1,976,651,000 after acquiring an additional 1,000,699 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after acquiring an additional 120,578 shares during the last quarter. Boston Partners raised its position in Corpay by 6.4% during 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 in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Corpay by 1.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company’s stock worth $659,890,000 after purchasing an additional 20,937 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Corpay Price Performance

Shares of CPAY stock opened at $328.01 on Tuesday. 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 fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a market cap of $23.04 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.32 and a beta of 0.98. The business’s 50 day moving average price is $329.61 and its 200-day moving average price is $350.57.

Corpay (NYSE:CPAY) last released its quarterly earnings results 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, equities research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CPAY. Wolfe Research upgraded 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. Royal Bank of Canada lifted their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Citigroup started coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods raised 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. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $397.62.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of Corpay 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 sale, the director now directly owns 12,215 shares in the company, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.10% of the stock is owned by corporate insiders.

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.