Corpay, Inc. (NYSE:CPAY) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP raised its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 36.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,514 shares of the company's stock after buying an additional 21,244 shares during the period. First Trust Advisors LP owned about 0.11% of Corpay worth $26,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its stake in Corpay by 16.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 204 shares of the company's stock worth $69,000 after acquiring an additional 29 shares during the period. Tealwood Asset Management Inc. lifted its position in shares of Corpay by 0.7% in the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company's stock worth $1,420,000 after purchasing an additional 30 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Corpay by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company's stock valued at $2,018,000 after purchasing an additional 30 shares in the last quarter. IFP Advisors Inc increased its holdings in Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company's stock valued at $390,000 after buying an additional 30 shares during the period. Finally, Lake Street Advisors Group LLC raised its stake in Corpay by 3.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company's stock worth $318,000 after buying an additional 32 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CPAY shares. Raymond James cut their price target on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Oppenheimer began coverage on shares of Corpay in a report on Monday. They issued a "market perform" rating for the company. Barclays cut their price target on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $397.62.

Insider Transactions at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now owns 12,215 shares of the company's stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.10% of the company's stock.

Corpay Price Performance

Shares of NYSE:CPAY traded down $0.86 during midday trading on Thursday, reaching $324.51. 121,809 shares of the company's stock traded hands, compared to its average volume of 484,547. The company has a market cap of $22.80 billion, a P/E ratio of 23.28, a PEG ratio of 1.32 and a beta of 1.11. The company has a fifty day simple moving average of $332.06 and a two-hundred day simple moving average of $350.90. 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 1 year low of $247.10 and a 1 year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its 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%. Equities analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.