Victory Capital Management Inc. Increases Holdings in Corpay, Inc. (NYSE:CPAY)

Victory Capital Management Inc. lifted its position in Corpay, Inc. (NYSE:CPAY) by 26.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,496 shares of the company’s stock after purchasing an additional 40,798 shares during the quarter. Victory Capital Management Inc.’s holdings in Corpay were worth $66,160,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CPAY. US Bancorp DE raised its stake in shares of Corpay by 5.0% in the third quarter. US Bancorp DE now owns 3,091 shares of the company’s stock worth $967,000 after purchasing an additional 148 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Corpay by 4.0% in the third quarter. Janney Montgomery Scott LLC now owns 2,863 shares of the company’s stock worth $895,000 after purchasing an additional 111 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Corpay by 4.3% in the third quarter. Asset Management One Co. Ltd. now owns 26,966 shares of the company’s stock worth $8,434,000 after purchasing an additional 1,115 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Corpay by 2.6% in the third quarter. Principal Financial Group Inc. now owns 86,539 shares of the company’s stock worth $27,066,000 after purchasing an additional 2,175 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in shares of Corpay in the third quarter worth about $302,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Down 2.0 %

Corpay stock opened at $335.78 on Friday. The stock has a market capitalization of $23.59 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The business has a 50 day simple moving average of $365.56 and a 200-day simple moving average of $347.36. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (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%. On average, analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CPAY has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. BMO Capital Markets lifted their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research report on Wednesday, January 8th. Royal Bank of Canada lifted 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. Finally, Citigroup assumed coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Three investment 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 target price of $399.71.

Insider Transactions at Corpay

In other 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 value of $910,683.21. Following the sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.10% of the company’s stock.

Corpay Company 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.