JPMorgan Chase & Co. Lowers Holdings in Corpay, Inc. (NYSE:CPAY)

JPMorgan Chase & Co. reduced its stake in shares of Corpay, Inc. (NYSE:CPAY) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,256,488 shares of the company’s stock after selling 1,030,823 shares during the period. JPMorgan Chase & Co. owned 6.11% of Corpay worth $1,440,481,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Corpay in the 4th quarter valued at $134,950,000. Boston Partners raised its position in shares of Corpay by 6.4% in the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock worth $694,847,000 after buying an additional 122,380 shares during the period. Vanguard Group Inc. boosted its holdings in Corpay by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after acquiring an additional 120,688 shares during the last quarter. Prana Capital Management LP purchased a new stake in Corpay during the third quarter valued at about $31,541,000. Finally, Proficio Capital Partners LLC acquired a new stake in Corpay during the fourth quarter worth about $28,632,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Down 0.4 %

Shares of NYSE CPAY opened at $355.94 on Friday. 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. The stock’s 50-day simple moving average is $364.23 and its 200-day simple moving average is $351.29. The firm has a market cap of $25.00 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (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%. As a group, equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity 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 completion of the sale, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CPAY shares. BMO Capital Markets lifted their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. Raymond James decreased their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Morgan Stanley raised their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company upped their price target on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

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.