Clearbridge Investments LLC Boosts Position in Corpay, Inc. (NYSE:CPAY)

Clearbridge Investments LLC raised its position in shares of Corpay, Inc. (NYSE:CPAY) by 44.2% in the fourth quarter, HoldingsChannel reports. The firm owned 118,116 shares of the company’s stock after buying an additional 36,184 shares during the quarter. Clearbridge Investments LLC’s holdings in Corpay were worth $39,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Corpay by 3.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,669 shares of the company’s stock valued at $3,962,000 after buying an additional 429 shares during the period. Public Sector Pension Investment Board grew its position in shares of Corpay by 13.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,391 shares of the company’s stock valued at $1,061,000 after acquiring an additional 400 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Corpay in the 3rd quarter worth $1,357,000. Edgestream Partners L.P. bought a new position in Corpay in the 3rd quarter worth $654,000. Finally, Kestra Investment Management LLC purchased a new position in Corpay during the third quarter valued at $212,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CPAY shares. Royal Bank of Canada upped their price target on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. BMO Capital Markets raised their target price 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. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a report on Wednesday, January 8th. Wells Fargo & Company increased their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Citigroup initiated coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Trading Up 0.9 %

Shares of Corpay stock opened at $351.87 on Wednesday. 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 firm has a market cap of $24.72 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The business has a 50-day moving average price of $362.83 and a 200-day moving average price of $352.79.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (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 anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.10% of the stock is owned by insiders.

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.