QRG Capital Management Inc. Lowers Position in Corpay, Inc. (NYSE:CPAY)

QRG Capital Management Inc. trimmed its position in shares of Corpay, Inc. (NYSE:CPAY) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,915 shares of the company’s stock after selling 1,047 shares during the quarter. QRG Capital Management Inc.’s holdings in Corpay were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Corpay by 36.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,580 shares of the company’s stock valued at $1,425,000 after purchasing an additional 1,225 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Corpay by 43.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,934 shares of the company’s stock worth $918,000 after buying an additional 888 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Corpay by 7.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,355 shares of the company’s stock worth $737,000 after buying an additional 160 shares during the last quarter. abrdn plc boosted its stake in shares of Corpay by 49.0% in the 3rd quarter. abrdn plc now owns 22,843 shares of the company’s stock worth $7,117,000 after buying an additional 7,507 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Corpay by 0.7% in the third quarter. New York State Teachers Retirement System now owns 71,507 shares of the company’s stock valued at $22,365,000 after acquiring an additional 462 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Insider Transactions 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 shares were 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 approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.10% of the company’s stock.

Corpay Trading Up 0.7 %

NYSE:CPAY opened at $366.99 on Friday. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The stock’s fifty day moving average price is $365.02 and its two-hundred day moving average price is $345.30. 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 company has a market cap of $25.58 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last issued 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%. As a group, analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Upgrades and Downgrades

CPAY has been the topic of several research analyst reports. Royal Bank of Canada boosted their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. 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 report on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price objective on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Three 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $399.71.

About Corpay

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.