Louisiana State Employees Retirement System Sells 200 Shares of Corpay, Inc. (NYSE:CPAY)

Louisiana State Employees Retirement System lowered its stake in shares of Corpay, Inc. (NYSE:CPAY) by 5.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,700 shares of the company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Corpay were worth $1,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in Corpay during the third quarter valued at approximately $40,497,000. JPMorgan Chase & Co. lifted its stake in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after buying an additional 120,578 shares in the last quarter. Prana Capital Management LP purchased a new position in Corpay during the third quarter worth about $31,541,000. Swedbank AB raised its stake in Corpay by 44.9% during the fourth quarter. Swedbank AB now owns 269,717 shares of the company’s stock worth $91,278,000 after purchasing an additional 83,600 shares during the period. Finally, FMR LLC raised its stake in Corpay by 3.0% during the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after purchasing an additional 78,880 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Activity at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction on Monday, February 10th. The stock was 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 directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Corpay Stock Performance

Corpay stock opened at $377.25 on Monday. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The firm has a market capitalization of $26.30 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.33 and a beta of 1.28. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The stock has a fifty day moving average price of $361.51 and a two-hundred day moving average price of $339.65.

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 the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. As a group, analysts anticipate that Corpay, Inc. will post 20.62 EPS for the current fiscal year.

Analysts Set New Price Targets

CPAY has been the topic of a number of research analyst reports. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Barclays lifted their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods boosted their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Citigroup started coverage on shares of Corpay in a research note 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

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.