Covestor Ltd Has $93,000 Stake in Corpay, Inc. (NYSE:CPAY)

Covestor Ltd increased its stake in shares of Corpay, Inc. (NYSE:CPAY) by 31.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 276 shares of the company’s stock after purchasing an additional 66 shares during the quarter. Covestor Ltd’s holdings in Corpay were worth $93,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Corpay by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock worth $2,623,702,000 after purchasing an additional 120,688 shares in the last quarter. JPMorgan Chase & Co. raised its position in 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 acquiring an additional 120,578 shares in the last quarter. Boston Partners lifted its stake in Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company’s stock valued at $694,847,000 after acquiring an additional 122,380 shares during the last quarter. Geode Capital Management LLC grew its position in Corpay by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company’s stock worth $584,962,000 after acquiring an additional 54,894 shares in the last quarter. Finally, Invesco Ltd. increased 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 purchasing an additional 1,047,080 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is owned by insiders.

Corpay Price Performance

Shares of Corpay stock opened at $304.96 on Monday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The company has a market cap of $21.42 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. The firm has a fifty day moving average price of $348.19 and a two-hundred day moving average price of $352.36. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81.

Corpay (NYSE:CPAY) last released 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 net margin of 25.25% and a return on equity of 41.46%. Analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of recent research reports. Royal Bank of Canada upped their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Citigroup assumed coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley upped their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and a consensus price target of $401.54.

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.