Amundi Has $47.74 Million Stake in Corpay, Inc. (NYSE:CPAY)

Amundi raised its stake in shares of Corpay, Inc. (NYSE:CPAY) by 28.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 133,575 shares of the company’s stock after purchasing an additional 29,276 shares during the quarter. Amundi’s holdings in Corpay were worth $47,742,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CPAY. Janney Montgomery Scott LLC increased its stake in Corpay by 4.0% in the third quarter. Janney Montgomery Scott LLC now owns 2,863 shares of the company’s stock valued at $895,000 after acquiring an additional 111 shares during the period. Principal Financial Group Inc. increased its stake in Corpay by 2.6% in the third quarter. Principal Financial Group Inc. now owns 86,539 shares of the company’s stock valued at $27,066,000 after acquiring an additional 2,175 shares during the period. CWA Asset Management Group LLC acquired a new position in Corpay in the third quarter valued at about $302,000. Venturi Wealth Management LLC boosted its position in Corpay by 2,958.6% in the third quarter. Venturi Wealth Management LLC now owns 887 shares of the company’s stock valued at $277,000 after buying an additional 858 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its position in Corpay by 4.3% in the third quarter. Apollon Wealth Management LLC now owns 1,385 shares of the company’s stock valued at $433,000 after buying an additional 57 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Insider Activity at Corpay

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

Corpay Trading Up 3.0 %

Shares of NYSE CPAY opened at $334.40 on Thursday. The company’s 50 day simple moving average is $364.94 and its 200 day simple moving average is $348.42. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a market capitalization of $23.49 billion, a P/E ratio of 23.92, a P/E/G ratio of 1.32 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Analysts Set New Price Targets

CPAY has been the topic of a number of recent analyst reports. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. BMO Capital Markets boosted their price target on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Keefe, Bruyette & Woods boosted their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley boosted their price target 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. Finally, Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

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.