Corpay, Inc. (NYSE:CPAY) Holdings Raised by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Corpay, Inc. (NYSE:CPAY) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,660 shares of the company’s stock after buying an additional 3,017 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Corpay were worth $35,436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CPAY. Vanguard Group Inc. increased its position in Corpay by 1.6% in the 4th 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. JPMorgan Chase & Co. grew its stake in shares of 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 holdings 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 buying an additional 122,380 shares during the last quarter. Geode Capital Management LLC raised its position in Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after acquiring an additional 23,275 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Corpay by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company’s stock valued at $160,904,000 after acquiring an additional 16,981 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Royal Bank of Canada upped 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. Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research note on Wednesday, January 8th. Finally, Citigroup assumed coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. Three investment 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. According to data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and an average price target of $399.71.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now owns 12,215 shares of the company’s stock, 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 SEC, which can be accessed through this link. Corporate insiders own 6.10% of the company’s stock.

Corpay Price Performance

NYSE:CPAY opened at $346.79 on Friday. 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 stock has a market cap of $24.36 billion, a P/E ratio of 24.81, a PEG ratio of 1.32 and a beta of 1.25. The company has a fifty day moving average price of $363.75 and a 200 day moving average price of $351.85. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81.

Corpay (NYSE:CPAY) last announced its quarterly earnings data 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 net margin of 25.25% and a return on equity of 41.46%. Analysts anticipate 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.