Vanguard Group Inc. Buys 120,688 Shares of Corpay, Inc. (NYSE:CPAY)

Vanguard Group Inc. increased its stake in Corpay, Inc. (NYSE:CPAY) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 7,752,799 shares of the company’s stock after acquiring an additional 120,688 shares during the period. Vanguard Group Inc. owned about 0.11% of Corpay worth $2,623,702,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Pathstone Holdings LLC raised its stake in shares of Corpay by 3.9% in the third quarter. Pathstone Holdings LLC now owns 5,487 shares of the company’s stock valued at $1,716,000 after buying an additional 206 shares during the period. PNC Financial Services Group Inc. raised its stake in Corpay by 32.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,334 shares of the company’s stock valued at $1,981,000 after acquiring an additional 1,546 shares during the period. Cerity Partners LLC lifted its holdings in Corpay by 17.3% during the third quarter. Cerity Partners LLC now owns 29,310 shares of the company’s stock valued at $9,167,000 after purchasing an additional 4,315 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Corpay by 8.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,343 shares of the company’s stock worth $2,609,000 after purchasing an additional 678 shares during the period. Finally, FMR LLC increased its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 0.2 %

CPAY opened at $358.69 on Wednesday. The business’s fifty day simple moving average is $364.62 and its 200 day simple moving average is $351.21. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock has a market cap of $25.20 billion, a PE ratio of 25.66, a P/E/G ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last issued its 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%. As a group, research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

CPAY has been the subject of several analyst reports. Royal Bank of Canada raised their price objective 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. Morgan Stanley lifted their price target on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Citigroup initiated coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective on the stock. BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling at Corpay

In other 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 transaction of $910,683.21. Following the completion of the transaction, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

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.