Royal London Asset Management Ltd. Grows Position in Corpay, Inc. (NYSE:CPAY)

Royal London Asset Management Ltd. lifted its stake in Corpay, Inc. (NYSE:CPAY) by 6.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,690 shares of the company’s stock after buying an additional 2,007 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Corpay were worth $10,725,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after buying an additional 120,578 shares in the last quarter. FMR LLC increased its position in Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after purchasing an additional 78,880 shares during the last quarter. Boston Partners increased its position in Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company’s stock worth $694,847,000 after purchasing an additional 122,380 shares during the last quarter. Geode Capital Management LLC increased its position in Corpay by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after purchasing an additional 23,275 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Corpay by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company’s stock worth $160,904,000 after purchasing an additional 16,981 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total value 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 $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPAY. BMO Capital Markets boosted their price target 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. Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $399.71.

Corpay Trading Down 1.6 %

NYSE CPAY opened at $347.12 on Friday. The company’s 50-day moving average price is $364.50 and its 200-day moving average price is $350.17. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock has a market cap of $24.38 billion, a PE ratio of 24.83, a PEG 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.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 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%. Equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current 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.