TCW Group Inc. Raises Stock Holdings in Corpay, Inc. (NYSE:CPAY)

TCW Group Inc. raised its stake in shares of Corpay, Inc. (NYSE:CPAY) by 3.5% during the fourth quarter, HoldingsChannel reports. The fund owned 19,344 shares of the company’s stock after acquiring an additional 652 shares during the quarter. TCW Group Inc.’s holdings in Corpay were worth $6,546,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CPAY. JPMorgan Chase & Co. boosted its holdings in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares during the period. FMR LLC boosted its stake in Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after purchasing an additional 78,880 shares during the period. Geode Capital Management LLC grew its holdings in Corpay by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after buying an additional 23,275 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Corpay by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock valued at $143,393,000 after purchasing an additional 1,749 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Corpay by 2.4% in the third quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock worth $111,779,000 after purchasing an additional 8,378 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CPAY. BMO Capital Markets lifted their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Wells Fargo & Company lifted their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods upped their price objective on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Three equities research 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 stock. According to data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Insider Activity at Corpay

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

Corpay Stock Performance

NYSE CPAY opened at $363.66 on Monday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The stock has a market cap of $25.35 billion, a P/E ratio of 26.01, a PEG ratio of 1.32 and a beta of 1.28. The company’s 50-day simple moving average is $362.96 and its 200 day simple moving average is $343.22. 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 (NYSE:CPAY) last posted its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. As a group, research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.