Chiron Investment Management LLC Buys New Stake in Corpay, Inc. (NYSE:CPAY)

Chiron Investment Management LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, HoldingsChannel reports. The fund purchased 1,367 shares of the company’s stock, valued at approximately $463,000.

Other institutional investors have also bought and sold shares of the company. Invesco Ltd. lifted its stake in shares of Corpay by 163.7% during the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock worth $570,801,000 after acquiring an additional 1,047,080 shares during the last quarter. Norges Bank purchased a new stake in Corpay in the fourth quarter worth about $241,739,000. Raymond James Financial Inc. bought a new position in Corpay during the 4th quarter worth about $134,950,000. Neuberger Berman Group LLC increased its position in Corpay by 8,620.5% during the 4th quarter. Neuberger Berman Group LLC now owns 140,400 shares of the company’s stock valued at $47,514,000 after purchasing an additional 138,790 shares during the period. Finally, Boston Partners raised its holdings in shares of Corpay by 6.4% in the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock valued at $694,847,000 after purchasing an additional 122,380 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CPAY. Raymond James cut their price objective 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 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. Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Morgan Stanley lifted their target price on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company increased 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. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $401.54.

Corpay Trading Up 1.7 %

NYSE CPAY opened at $304.96 on Monday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a fifty day simple moving average of $348.19 and a two-hundred day simple moving average of $352.36. 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 stock has a market cap of $21.42 billion, a P/E ratio of 21.81, a P/E/G ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY) last issued its earnings results 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%. On average, analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Transactions at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the 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 in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.10% of the company’s stock.

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.