Xponance Inc. Trims Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Xponance Inc. reduced its stake in Corpay, Inc. (NYSE:CPAY) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,467 shares of the company’s stock after selling 1,237 shares during the period. Xponance Inc.’s holdings in Corpay were worth $5,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after buying an additional 120,578 shares during the period. FMR LLC raised its holdings in Corpay by 3.0% in the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after buying an additional 78,880 shares during the period. Boston Partners raised its holdings in Corpay by 6.4% in the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock valued at $694,847,000 after buying an additional 122,380 shares during the period. Geode Capital Management LLC raised its holdings in Corpay by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after buying an additional 23,275 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Corpay by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company’s stock valued at $160,904,000 after buying an additional 16,981 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CPAY has been the subject of several research reports. BMO Capital Markets lifted their target price on 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 lifted their target price on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Citigroup initiated coverage on Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. Wells Fargo & Company lifted their target price on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Stock Performance

Shares of CPAY opened at $352.52 on Thursday. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock has a 50 day moving average price of $364.64 and a 200 day moving average price of $349.68. The company has a market capitalization of $24.76 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

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

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents 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. 6.10% of the stock is currently owned by company insiders.

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.