T. Rowe Price Investment Management Inc. Purchases 20,937 Shares of Corpay, Inc. (NYSE:CPAY)

T. Rowe Price Investment Management Inc. lifted its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,949,913 shares of the company's stock after purchasing an additional 20,937 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 2.80% of Corpay worth $659,890,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of Corpay by 163.7% during the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock worth $570,801,000 after acquiring an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after buying an additional 1,000,699 shares in the last quarter. Norges Bank acquired a new position in Corpay during the fourth quarter worth $241,739,000. Raymond James Financial Inc. acquired a new position in shares of Corpay during the 4th quarter worth $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of Corpay in the 4th quarter valued at about $116,179,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corpay

In related 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 value of $910,683.21. Following the transaction, the director now 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CPAY shares. Raymond James decreased their price target on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. Oppenheimer started coverage on Corpay in a report on Monday. They issued a "market perform" rating on the stock. Royal Bank of Canada boosted their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Citigroup assumed coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Corpay from $415.00 to $445.00 and gave the stock 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $397.62.

Corpay Trading Down 1.0 %

CPAY stock traded down $3.17 on Monday, hitting $318.87. 94,367 shares of the company were exchanged, compared to its average volume of 475,074. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth 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 business's fifty day moving average is $334.94 and its two-hundred day moving average is $351.42.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (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, research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current 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.