QRG Capital Management Inc. Lowers Stock Position in Corpay, Inc. (NYSE:CPAY)

QRG Capital Management Inc. cut its stake in shares of Corpay, Inc. (NYSE:CPAY) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,915 shares of the company’s stock after selling 1,047 shares during the quarter. QRG Capital Management Inc.’s holdings in Corpay were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares during the last quarter. FMR LLC boosted its stake in Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after buying an additional 78,880 shares in the last quarter. Geode Capital Management LLC grew its position in Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after acquiring an additional 23,275 shares during 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 worth $143,393,000 after acquiring an additional 1,749 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Corpay by 2.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock worth $111,779,000 after acquiring an additional 8,378 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 related 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 value of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company’s stock, valued at $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 available at this link. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CPAY shares. Wolfe Research raised 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. Raymond James reduced their price objective on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Keefe, Bruyette & Woods boosted their target price on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup began coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Performance

NYSE:CPAY opened at $366.99 on Friday. 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 firm’s fifty day simple moving average is $365.02 and its 200 day simple moving average is $345.30. The stock has a market cap of $25.58 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, February 5th. The company reported $4.96 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%. As a group, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

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.