Allspring Global Investments Holdings LLC Boosts Holdings in Corpay, Inc. (NYSE:CPAY)

Allspring Global Investments Holdings LLC raised its holdings in Corpay, Inc. (NYSE:CPAY) by 17.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,732 shares of the company’s stock after purchasing an additional 3,504 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Corpay were worth $8,067,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CPAY. JPMorgan Chase & Co. increased its position in Corpay by 2.3% during 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. FMR LLC raised its holdings in Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after buying an additional 78,880 shares during the period. Geode Capital Management LLC lifted its position in Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after buying an additional 23,275 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Corpay by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after buying an additional 1,749 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in shares of Corpay by 2.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock valued at $111,779,000 after acquiring an additional 8,378 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company’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 directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPAY. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Barclays boosted their price target on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Citigroup began coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective on the stock. Finally, BMO Capital Markets boosted their target price on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Price Performance

NYSE CPAY opened at $386.46 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock has a market cap of $26.94 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28. The company has a 50-day moving average price of $362.42 and a two-hundred 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 issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. Analysts forecast 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.