State of Tennessee Department of Treasury Sells 819 Shares of Corpay, Inc. (NYSE:CPAY)

State of Tennessee Department of Treasury decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,783 shares of the company’s stock after selling 819 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Corpay were worth $6,695,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CPAY. Vanguard Group Inc. lifted its holdings in Corpay by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock worth $2,623,702,000 after buying an additional 120,688 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares during the last quarter. Boston Partners lifted its stake in shares of Corpay by 6.4% during the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock worth $694,847,000 after purchasing an additional 122,380 shares during the last quarter. Geode Capital Management LLC boosted its position in Corpay by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company’s stock valued at $584,962,000 after purchasing an additional 54,894 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Corpay by 163.7% in the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock valued at $570,801,000 after purchasing an additional 1,047,080 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CPAY. Citigroup initiated coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. Barclays cut their price target on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their target price on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley upped their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and an average target price of $397.62.

Insiders Place Their Bets

In other news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is owned by company insiders.

Corpay Stock Performance

NYSE CPAY opened at $322.41 on Friday. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The firm has a market capitalization of $22.65 billion, a P/E ratio of 23.06, a PEG ratio of 1.32 and a beta of 1.11. The stock has a 50-day simple moving average of $336.22 and a two-hundred day simple moving average of $351.30.

Corpay (NYSE:CPAY) last announced its quarterly 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%. On average, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Corpay Company 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.