Teacher Retirement System of Texas Takes Position in Corpay, Inc. (NYSE:CPAY)

Teacher Retirement System of Texas bought a new position in Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,425 shares of the company’s stock, valued at approximately $2,851,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Corpay in the fourth quarter valued at $134,950,000. Boston Partners raised its position in shares of Corpay by 6.4% during the fourth 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 during the period. JPMorgan Chase & Co. lifted its holdings in shares of Corpay by 2.3% during the third 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. Prana Capital Management LP acquired a new position in shares of Corpay in the 3rd quarter valued at $31,541,000. Finally, Proficio Capital Partners LLC purchased a new position in Corpay in the 4th quarter worth about $28,632,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Trading Up 0.2 %

NYSE:CPAY opened at $358.69 on Wednesday. The company has a market capitalization of $25.20 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.32 and a beta of 1.25. The stock’s 50 day moving average price is $364.62 and its 200 day moving average price is $351.21. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81.

Corpay (NYSE:CPAY) last released its quarterly earnings results 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, research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Royal Bank of Canada raised their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research report on Wednesday, January 8th. Morgan Stanley increased their target price on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, BMO Capital Markets lifted their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred 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 in the company, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.10% of the company’s stock.

Corpay Company 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.