Park West Asset Management LLC Grows Stake in Corpay, Inc. (NYSE:CPAY)

Park West Asset Management LLC grew its holdings in Corpay, Inc. (NYSE:CPAY) by 18.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,600 shares of the company’s stock after buying an additional 22,600 shares during the period. Corpay makes up 3.9% of Park West Asset Management LLC’s portfolio, making the stock its 9th largest holding. Park West Asset Management LLC owned approximately 0.20% of Corpay worth $48,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Corpay by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock worth $2,623,702,000 after purchasing an additional 120,688 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock valued at $1,976,651,000 after acquiring an additional 1,000,699 shares in the last quarter. JPMorgan Chase & Co. grew its position in Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after buying an additional 120,578 shares in the last quarter. Boston Partners increased its stake in shares of Corpay by 6.4% during the fourth quarter. Boston Partners now owns 2,045,398 shares of the company’s stock valued at $694,847,000 after acquiring an additional 122,380 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in Corpay by 1.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company’s stock worth $659,890,000 after acquiring an additional 20,937 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction 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 directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.10% of the stock is owned by company insiders.

Corpay Price Performance

Shares of NYSE CPAY opened at $316.82 on Tuesday. The company has a market capitalization of $22.26 billion, a PE ratio of 22.66, a P/E/G ratio of 1.32 and a beta of 1.11. 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 firm has a fifty day simple moving average of $333.71 and a 200 day simple moving average of $351.26.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CPAY. Morgan Stanley lifted their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Citigroup started coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. Wells Fargo & Company lowered their price target on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Oppenheimer assumed coverage on Corpay in a report on Monday. They set a “market perform” rating for the company. Finally, Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $397.62.

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.