AssuredPartners Investment Advisors LLC Makes New $424,000 Investment in Corpay, Inc. (NYSE:CPAY)

AssuredPartners Investment Advisors LLC acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,254 shares of the company’s stock, valued at approximately $424,000.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Corpay in the fourth quarter worth $134,950,000. Boston Partners boosted its position in shares of Corpay by 6.4% during the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock worth $694,847,000 after purchasing an additional 122,380 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Corpay by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after buying an additional 120,688 shares during the period. JPMorgan Chase & Co. increased its position 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 buying an additional 120,578 shares in the last quarter. Finally, Prana Capital Management LP acquired a new position in Corpay during the 3rd quarter worth approximately $31,541,000. Institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling

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 completion of the transaction, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by corporate insiders.

Corpay Price Performance

Shares of NYSE CPAY opened at $355.94 on Friday. The company has a market capitalization of $25.00 billion, a PE ratio of 25.46, a PEG ratio of 1.32 and a beta of 1.25. 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 stock’s 50 day moving average price is $364.23 and its 200-day moving average price is $351.29. 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 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, equities analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CPAY shares. Wolfe Research raised 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. Wells Fargo & Company lifted their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley raised their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada boosted their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Three investment 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.