Intech Investment Management LLC Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Intech Investment Management LLC purchased a new stake in Corpay, Inc. (NYSE:CPAY) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,563 shares of the company’s stock, valued at approximately $867,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CPAY. Exchange Traded Concepts LLC boosted its holdings in Corpay by 16.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $69,000 after acquiring an additional 29 shares during the last quarter. Tealwood Asset Management Inc. boosted its stake in shares of Corpay by 0.7% in the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after purchasing an additional 30 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Corpay by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock valued at $2,018,000 after purchasing an additional 30 shares during the last quarter. IFP Advisors Inc increased its position in shares of Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock worth $390,000 after buying an additional 30 shares during the period. Finally, Lake Street Advisors Group LLC raised its stake in Corpay by 3.5% during the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.10% of the stock is owned by company insiders.

Corpay Trading Down 1.6 %

NYSE CPAY opened at $347.12 on Monday. The business’s fifty day moving average is $364.50 and its 200-day moving average is $350.44. 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 stock has a market capitalization of $24.38 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 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%. Equities research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on CPAY. Wells Fargo & Company upped their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Morgan Stanley upped their target price on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their target price on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Raymond James dropped their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, BMO Capital Markets raised their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

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.