TCW Group Inc. Raises Holdings in Corpay, Inc. (NYSE:CPAY)

TCW Group Inc. raised its stake in shares of Corpay, Inc. (NYSE:CPAY) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,344 shares of the company’s stock after acquiring an additional 652 shares during the period. TCW Group Inc.’s holdings in Corpay were worth $6,546,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after acquiring an additional 120,578 shares in the last quarter. FMR LLC increased its position in shares of Corpay by 3.0% in the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after purchasing an additional 78,880 shares during the last quarter. Geode Capital Management LLC increased its holdings in Corpay by 1.4% in 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Corpay by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after acquiring an additional 1,749 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in Corpay by 2.4% during the third quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock worth $111,779,000 after purchasing an additional 8,378 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CPAY. Morgan Stanley lifted their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Raymond James cut their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company raised their price target on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research note on Wednesday, January 8th. Finally, BMO Capital Markets boosted their target price on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling

In other 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 completion of the sale, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Corpay Trading Down 1.4 %

Shares of Corpay stock opened at $363.66 on Monday. The business’s fifty day moving average is $362.96 and its two-hundred day moving average is $343.22. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a market cap of $25.35 billion, a PE ratio of 26.01, a P/E/G ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last announced 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 anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.