California Public Employees Retirement System Sells 3,622 Shares of Corpay, Inc. (NYSE:CPAY)

California Public Employees Retirement System decreased its holdings in Corpay, Inc. (NYSE:CPAY) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,316 shares of the company’s stock after selling 3,622 shares during the period. California Public Employees Retirement System’s holdings in Corpay were worth $42,071,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CPAY. Avion Wealth boosted its holdings in shares of Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Versant Capital Management Inc boosted its stake in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares during the last quarter. Quarry LP bought a new position in Corpay during the third quarter valued at approximately $42,000. Spire Wealth Management purchased a new position in Corpay during the 4th quarter valued at approximately $42,000. Finally, Assetmark Inc. increased its stake in Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction 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 owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CPAY shares. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Royal Bank of Canada lifted their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Raymond James reduced their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Keefe, Bruyette & Woods increased their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, BMO Capital Markets boosted their price objective on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Up 2.2 %

NYSE:CPAY opened at $359.56 on Thursday. The stock has a fifty day simple moving average of $362.55 and a 200-day simple moving average of $352.84. 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 company has a market cap of $25.26 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth 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.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) 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%. Analysts anticipate that Corpay, Inc. will post 19.76 EPS 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.