Prudential Financial Inc. Has $11.97 Million Position in Corpay, Inc. (NYSE:CPAY)

Prudential Financial Inc. decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 12.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,355 shares of the company’s stock after selling 5,094 shares during the quarter. Prudential Financial Inc. owned approximately 0.05% of Corpay worth $11,965,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Corpay during the fourth quarter valued at $134,950,000. Boston Partners raised its holdings in 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 during the last quarter. Vanguard Group Inc. lifted its position in Corpay by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after purchasing an additional 120,688 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 120,578 shares during the last quarter. Finally, Prana Capital Management LP acquired a new stake in shares of Corpay during the 3rd quarter worth approximately $31,541,000. 98.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CPAY has been the topic of several analyst reports. BMO Capital Markets increased their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Royal Bank of Canada increased their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price objective on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods increased 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. Finally, Wells Fargo & Company boosted their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Insider Transactions at Corpay

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred 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 owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.10% of the stock is owned by insiders.

Corpay Stock Performance

Shares of CPAY opened at $346.79 on Friday. The firm has a market cap of $24.36 billion, a P/E ratio of 24.81, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The firm’s 50 day moving average price is $363.75 and its two-hundred day moving average price is $351.56.

Corpay (NYSE:CPAY) last posted its quarterly earnings data 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 net margin of 25.25% and a return on equity of 41.46%. On average, analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.