Blue Trust Inc. Increases Stake in Corpay, Inc. (NYSE:CPAY)

Blue Trust Inc. lifted its stake in Corpay, Inc. (NYSE:CPAY) by 63.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 882 shares of the company’s stock after buying an additional 343 shares during the quarter. Blue Trust Inc.’s holdings in Corpay were worth $276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPAY. JPMorgan Chase & Co. boosted its holdings 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% during the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after buying an additional 78,880 shares during the last quarter. Geode Capital Management LLC increased its stake 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 acquiring an additional 23,275 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Corpay by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after buying an additional 1,749 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its position in 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 purchasing an additional 8,378 shares during the period. Institutional investors own 98.84% of the company’s stock.

Insider Activity

In other news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the sale, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Corpay Stock Performance

Shares of NYSE CPAY opened at $380.55 on Monday. The company has a market cap of $26.53 billion, a PE ratio of 27.14, a PEG ratio of 1.30 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $391.10. The firm’s 50-day moving average price is $361.47 and its 200-day moving average price is $333.36.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Thursday, November 7th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.05. Corpay had a net margin of 26.14% and a return on equity of 39.44%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $4.20 earnings per share. As a group, analysts anticipate that Corpay, Inc. will post 17.84 EPS for the current year.

Analyst Upgrades and Downgrades

CPAY has been the topic of several research reports. Citigroup assumed coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. Morgan Stanley boosted their price target on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Bank of America boosted their target price on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Three 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 company. Based on data from MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and a consensus target price of $381.43.

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.