Vanguard Group Inc. Has $2.62 Billion Position in Corpay, Inc. (NYSE:CPAY)

Vanguard Group Inc. grew its stake in Corpay, Inc. (NYSE:CPAY) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,752,799 shares of the company’s stock after buying an additional 120,688 shares during the period. Vanguard Group Inc. owned 11.12% of Corpay worth $2,623,702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CPAY. Allspring Global Investments Holdings LLC increased its position in Corpay by 17.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock valued at $8,067,000 after purchasing an additional 3,504 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of Corpay by 70.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company’s stock valued at $1,689,000 after purchasing an additional 2,059 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in shares of Corpay during the fourth quarter worth $3,667,000. PNC Financial Services Group Inc. raised its stake in Corpay by 32.3% during the third quarter. PNC Financial Services Group Inc. now owns 6,334 shares of the company’s stock worth $1,981,000 after buying an additional 1,546 shares during the last quarter. Finally, Vestcor Inc lifted its holdings in Corpay by 239.5% in the third quarter. Vestcor Inc now owns 7,088 shares of the company’s stock valued at $2,217,000 after buying an additional 5,000 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Richard Macchia sold 2,427 shares of the 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 completion of the sale, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Raymond James cut their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada raised their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $399.71.

Corpay Stock Up 0.2 %

CPAY stock opened at $358.69 on Wednesday. The firm has a market capitalization of $25.20 billion, a PE ratio of 25.66, a P/E/G ratio of 1.32 and a beta of 1.25. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The stock’s 50 day moving average is $364.62 and its 200-day moving average is $351.21.

Corpay (NYSE:CPAY) last posted 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%. Sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.