State of New Jersey Common Pension Fund D Reduces Holdings in Corpay, Inc. (NYSE:CPAY)

State of New Jersey Common Pension Fund D trimmed its position in shares of Corpay, Inc. (NYSE:CPAY) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,834 shares of the company’s stock after selling 486 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Corpay were worth $8,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CPAY. Avion Wealth boosted its stake in shares of Corpay by 1,011.1% during the fourth 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 fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares during the period. Huntington National Bank boosted its stake in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares during the period. Quarry LP purchased a new stake in shares of Corpay during the third quarter valued at $42,000. Finally, Spire Wealth Management purchased a new stake in shares of Corpay during the fourth quarter valued at $42,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CPAY. BMO Capital Markets upped their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Wells Fargo & Company boosted their target price on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Morgan Stanley boosted their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. Finally, Citigroup started coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insiders Place Their Bets

In other news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.10% of the stock is currently owned by insiders.

Corpay Stock Performance

Shares of Corpay stock opened at $386.46 on Wednesday. The firm has a market capitalization of $26.94 billion, a P/E ratio of 27.64, a PEG ratio of 1.33 and a beta of 1.28. 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 has a 50 day moving average price of $362.42 and a 200 day moving average price of $341.09. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81.

Corpay (NYSE:CPAY) last posted 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%. Sell-side analysts expect that Corpay, Inc. will post 20.62 EPS 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.