Anchor Capital Advisors LLC Cuts Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Anchor Capital Advisors LLC lessened its position in Corpay, Inc. (NYSE:CPAY) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 72,862 shares of the company’s stock after selling 3,848 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Corpay were worth $24,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CPAY. JPMorgan Chase & Co. raised its stake 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 purchasing an additional 120,578 shares during the last quarter. Prana Capital Management LP purchased a new stake in shares of Corpay during the third quarter worth $31,541,000. Proficio Capital Partners LLC acquired a new stake in shares of Corpay in the fourth quarter valued at about $28,632,000. Swedbank AB lifted its stake in shares of Corpay by 44.9% in the fourth quarter. Swedbank AB now owns 269,717 shares of the company’s stock worth $91,278,000 after buying an additional 83,600 shares in the last quarter. Finally, FMR LLC lifted 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 buying an additional 78,880 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

CPAY has been the subject of several research reports. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods increased their price target on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup began coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective on the stock. Raymond James lowered their price objective on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, Morgan Stanley raised their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Performance

NYSE CPAY opened at $364.17 on Friday. The stock has a fifty day simple moving average of $364.55 and a 200-day simple moving average of $344.69. 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 $25.39 billion, a PE ratio of 26.05, a P/E/G ratio of 1.32 and a beta of 1.28. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81.

Corpay (NYSE:CPAY) last announced its earnings results 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 return on equity of 41.46% and a net margin of 25.25%. Equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

Corpay Company 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.