California Public Employees Retirement System Lowers Position in Corpay, Inc. (NYSE:CPAY)

California Public Employees Retirement System cut its position in shares of Corpay, Inc. (NYSE:CPAY) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,316 shares of the company’s stock after selling 3,622 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Corpay worth $42,071,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPAY. Public Sector Pension Investment Board grew its holdings in Corpay by 13.4% in the third quarter. Public Sector Pension Investment Board now owns 3,391 shares of the company’s stock worth $1,061,000 after purchasing an additional 400 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Corpay in the 3rd quarter worth approximately $1,357,000. Edgestream Partners L.P. bought a new position in Corpay during the 3rd quarter valued at approximately $654,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Corpay during the third quarter valued at $302,000. Finally, Centiva Capital LP bought a new stake in Corpay in the third quarter worth $334,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Trading Up 2.2 %

Shares of NYSE:CPAY opened at $359.56 on Thursday. The stock’s 50-day simple moving average is $362.55 and its two-hundred day simple moving average is $352.84. The stock has a market capitalization of $25.26 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52-week low of $247.10 and a 52-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.

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 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%. Analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Activity at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the firm’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 transaction, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This trade 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.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price target on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Royal Bank of Canada raised their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Raymond James dropped their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley raised 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, BMO Capital Markets boosted their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.