iA Global Asset Management Inc. Buys 412 Shares of Corpay, Inc. (NYSE:CPAY)

iA Global Asset Management Inc. boosted its holdings in Corpay, Inc. (NYSE:CPAY) by 14.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,190 shares of the company’s stock after purchasing an additional 412 shares during the quarter. iA Global Asset Management Inc.’s holdings in Corpay were worth $1,080,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Wilkins Investment Counsel Inc. lifted its position in Corpay by 3.8% in the 4th quarter. Wilkins Investment Counsel Inc. now owns 27,345 shares of the company’s stock valued at $9,254,000 after acquiring an additional 1,005 shares in the last quarter. Magnetar Financial LLC bought a new position in Corpay in the 4th quarter valued at about $5,603,000. Teacher Retirement System of Texas bought a new position in Corpay in the 4th quarter valued at about $2,851,000. Royal London Asset Management Ltd. lifted its position in Corpay by 6.8% in the 4th quarter. Royal London Asset Management Ltd. now owns 31,690 shares of the company’s stock valued at $10,725,000 after acquiring an additional 2,007 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Corpay in the 4th quarter valued at about $176,000. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPAY. Wells Fargo & Company raised 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. Raymond James dropped their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock 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 target price on the stock in a research report on Wednesday, January 8th. Citigroup started coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Finally, Morgan Stanley lifted their target price 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. 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. According to data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and an average price target of $399.71.

Corpay Trading Down 1.6 %

Shares of CPAY stock opened at $347.12 on Friday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The firm has a market cap of $24.38 billion, a P/E ratio of 24.83, a PEG ratio of 1.32 and a beta of 1.25. 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 of $364.50 and a 200-day moving average of $349.92.

Corpay (NYSE:CPAY) last released its quarterly earnings data 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%. Sell-side analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is owned by company insiders.

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.