Price T Rowe Associates Inc. MD Grows Stock Position in Corpay, Inc. (NYSE:CPAY)

Price T Rowe Associates Inc. MD boosted its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 20.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,840,818 shares of the company's stock after purchasing an additional 1,000,699 shares during the period. Price T Rowe Associates Inc. MD owned about 8.38% of Corpay worth $1,976,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in Corpay during the third quarter worth $364,000. Tidal Investments LLC raised its position in Corpay by 1.5% in the third quarter. Tidal Investments LLC now owns 4,641 shares of the company's stock worth $1,452,000 after acquiring an additional 68 shares during the period. Peapack Gladstone Financial Corp grew its position in shares of Corpay by 0.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 40,416 shares of the company's stock valued at $12,640,000 after acquiring an additional 113 shares during the period. American Trust purchased a new position in Corpay in the third quarter valued at approximately $719,000. Finally, Principal Financial Group Inc. increased its position in Corpay by 2.6% in the third quarter. Principal Financial Group Inc. now owns 86,539 shares of the company's stock worth $27,066,000 after buying an additional 2,175 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

Corpay stock traded down $2.63 during trading hours on Monday, hitting $319.41. 86,272 shares of the stock traded hands, compared to its average volume of 474,974. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The stock has a market capitalization of $22.44 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 1.32 and a beta of 1.11. 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 firm's 50 day moving average price is $334.94 and its 200-day moving average price is $351.42.

Corpay (NYSE:CPAY - Get Free Report) last issued 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%. As a group, equities analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Activity

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was 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 owns 12,215 shares of the company's stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays cut their price objective on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Oppenheimer started coverage on Corpay in a report on Monday. They set a "market perform" rating for the company. Citigroup assumed coverage on Corpay in a research report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Four 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $397.62.

Corpay 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.