Clearbridge Investments LLC Grows Stake in Corpay, Inc. (NYSE:CPAY)

Clearbridge Investments LLC grew its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 44.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 118,116 shares of the company’s stock after buying an additional 36,184 shares during the period. Clearbridge Investments LLC owned 0.17% of Corpay worth $39,973,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPAY. Avion Wealth increased its position in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc boosted its stake in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares in the last quarter. Quarry LP purchased a new position in shares of Corpay during the third quarter valued at about $42,000. Spire Wealth Management bought a new position in Corpay in the fourth quarter worth about $42,000. Finally, Assetmark Inc. lifted its holdings in Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after buying an additional 60 shares during the period. Institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 0.9 %

NYSE:CPAY opened at $351.87 on Wednesday. The stock has a market cap of $24.72 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.32 and a beta of 1.25. 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 company’s 50 day moving average price is $362.83 and its 200-day moving average price is $352.79. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81.

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

Insider Buying and Selling

In other news, Director Richard Macchia sold 2,427 shares of Corpay 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 directly owns 12,215 shares in the company, 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 legal filing with the SEC, which is available through this link. 6.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company upped their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Morgan Stanley raised their price objective on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Raymond James decreased their price target 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. 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 price target for the company. Three equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.