Fmr LLC Has $543.22 Million Stake in Corpay, Inc. (NYSE:CPAY)

Fmr LLC reduced its position in Corpay, Inc. (NYSE:CPAY) by 40.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,605,177 shares of the company’s stock after selling 1,087,670 shares during the quarter. Fmr LLC’s holdings in Corpay were worth $543,224,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CPAY. Allspring Global Investments Holdings LLC lifted its holdings in shares of Corpay by 17.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after acquiring an additional 3,504 shares during the period. Crossmark Global Holdings Inc. raised its position in Corpay by 70.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company’s stock worth $1,689,000 after purchasing an additional 2,059 shares in the last quarter. Radnor Capital Management LLC bought a new position in Corpay during the fourth quarter worth about $3,667,000. Vestcor Inc boosted its holdings in Corpay by 239.5% during the third quarter. Vestcor Inc now owns 7,088 shares of the company’s stock valued at $2,217,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Corpay by 68.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company’s stock valued at $1,342,000 after purchasing an additional 1,611 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

CPAY stock opened at $280.72 on Wednesday. The stock has a market capitalization of $19.72 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. 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 company has a 50 day moving average price of $353.71 and a 200 day moving average price of $352.22. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. Analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Buying and Selling 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 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 in the company, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CPAY. Royal Bank of Canada raised their target price on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” 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 report on Wednesday, January 8th. Wells Fargo & Company upped their target price on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Raymond James cut their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Finally, BMO Capital Markets boosted their price target on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus price target of $401.54.

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.