Allspring Global Investments Holdings LLC Has $8.07 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Allspring Global Investments Holdings LLC lifted its holdings in Corpay, Inc. (NYSE:CPAY) by 17.3% in the 4th quarter, Holdings Channel reports. The firm owned 23,732 shares of the company’s stock after buying an additional 3,504 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Corpay were worth $8,067,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in Corpay during the 3rd quarter worth $40,497,000. JPMorgan Chase & Co. boosted its stake in Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after buying an additional 120,578 shares in the last quarter. Prana Capital Management LP bought a new stake in Corpay in the 3rd quarter valued at $31,541,000. Swedbank AB raised its stake in shares of Corpay by 44.9% in the 4th quarter. Swedbank AB now owns 269,717 shares of the company’s stock valued at $91,278,000 after buying an additional 83,600 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after acquiring an additional 78,880 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

CPAY opened at $386.46 on Wednesday. The business’s 50-day simple moving average is $362.42 and its 200 day simple moving average is $341.09. Corpay, Inc. has a 52-week low of $247.10 and a 52-week 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 has a market capitalization of $26.94 billion, a PE ratio of 27.64, a PEG ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that Corpay, Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CPAY. Barclays increased their price target on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research report on Wednesday, January 8th. Wells Fargo & Company raised their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Raymond James dropped their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Finally, Morgan Stanley upped their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 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 stock. According to data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

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.