Price T Rowe Associates Inc. MD Acquires 1,000,699 Shares of Corpay, Inc. (NYSE:CPAY)

Price T Rowe Associates Inc. MD boosted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 20.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,840,818 shares of the company’s stock after acquiring an additional 1,000,699 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.08% of Corpay worth $1,976,651,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Corpay in the 3rd quarter valued at $364,000. Tidal Investments LLC grew its stake in Corpay by 1.5% in the third quarter. Tidal Investments LLC now owns 4,641 shares of the company’s stock valued at $1,452,000 after purchasing an additional 68 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in Corpay by 0.3% in the third quarter. Peapack Gladstone Financial Corp now owns 40,416 shares of the company’s stock worth $12,640,000 after purchasing an additional 113 shares in the last quarter. American Trust purchased a new stake in shares of Corpay during the third quarter valued at about $719,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Corpay by 2.6% in the 3rd quarter. Principal Financial Group Inc. now owns 86,539 shares of the company’s stock valued at $27,066,000 after buying an additional 2,175 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of NYSE CPAY opened at $308.02 on Wednesday. The company has a 50 day simple moving average of $338.56 and a two-hundred day simple moving average of $351.62. The stock has a market cap of $21.64 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.32 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on CPAY shares. Morgan Stanley increased their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Wolfe Research raised 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. Wells Fargo & Company boosted their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Raymond James decreased their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Finally, Barclays dropped their price target on Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $400.38.

Insider Buying and Selling

In other news, Director Richard Macchia sold 2,427 shares of the business’s 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 completion of the sale, the director now owns 12,215 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. 6.10% of the stock is currently owned by insiders.

Corpay Profile

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.