Boston Partners Increases Stock Position in Corpay, Inc. (NYSE:CPAY)

Boston Partners grew its stake in shares of Corpay, Inc. (NYSE:CPAY) by 6.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,045,398 shares of the company’s stock after buying an additional 122,380 shares during the period. Corpay accounts for approximately 0.8% of Boston Partners’ holdings, making the stock its 21st biggest holding. Boston Partners owned approximately 2.93% of Corpay worth $694,847,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Exchange Traded Concepts LLC grew its stake in shares of Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $69,000 after buying an additional 29 shares during the period. Tealwood Asset Management Inc. grew its stake in shares of Corpay by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after buying an additional 30 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Corpay by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock valued at $2,018,000 after acquiring an additional 30 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Corpay by 2.7% during the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock valued at $390,000 after acquiring an additional 30 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Corpay by 3.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock valued at $318,000 after acquiring an additional 32 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Corpay 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 value of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is owned by insiders.

Corpay Price Performance

Shares of NYSE:CPAY opened at $348.20 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a 50-day simple moving average of $364.75 and a 200 day simple moving average of $349.44. The company has a market cap of $24.46 billion, a PE ratio of 24.91, a P/E/G ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. On average, sell-side analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CPAY shares. 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. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a report on Wednesday, January 8th. Keefe, Bruyette & Woods lifted their target price on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley lifted their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Citigroup began coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

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.