Boston Partners decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY – Free Report) by 19.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,836,891 shares of the company’s stock after selling 439,129 shares during the quarter. Boston Partners’ holdings in Corpay were worth $554,879,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPAY. Hendershot Investments Inc. boosted its holdings in shares of Corpay by 37.5% during the 3rd quarter. Hendershot Investments Inc. now owns 51,779 shares of the company’s stock worth $14,915,000 after buying an additional 14,128 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Corpay by 5.6% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 138,858 shares of the company’s stock valued at $39,999,000 after acquiring an additional 7,397 shares during the period. Vanguard Group Inc. lifted its position in Corpay by 0.7% during the third quarter. Vanguard Group Inc. now owns 8,182,672 shares of the company’s stock worth $2,357,100,000 after acquiring an additional 58,235 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Corpay by 35.2% during the third quarter. Citigroup Inc. now owns 86,004 shares of the company’s stock worth $24,774,000 after acquiring an additional 22,401 shares during the period. Finally, Tredje AP fonden grew its position in shares of Corpay by 54.0% in the third quarter. Tredje AP fonden now owns 8,877 shares of the company’s stock valued at $2,557,000 after purchasing an additional 3,112 shares during the last quarter. 98.84% of the stock is owned by institutional investors.
Corpay Stock Up 1.6%
NYSE CPAY opened at $356.52 on Friday. The company has a market cap of $23.30 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 0.96 and a beta of 0.86. Corpay, Inc. has a 1-year low of $252.84 and a 1-year high of $367.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86. The company has a 50 day moving average of $331.21 and a 200-day moving average of $320.81.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CPAY. Oppenheimer reiterated an “outperform” rating and set a $388.00 target price on shares of Corpay in a research note on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of Corpay in a report on Sunday, May 10th. Wolfe Research reiterated an “outperform” rating and set a $450.00 price objective on shares of Corpay in a research report on Wednesday, June 3rd. Robert W. Baird dropped their target price on Corpay from $440.00 to $380.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Finally, Weiss Ratings raised shares of Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 27th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $383.07.
View Our Latest Research Report on CPAY
Insider Activity
In related news, insider Armando Lins Netto sold 2,694 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $357.01, for a total value of $961,784.94. Following the transaction, the insider owned 15,834 shares in the company, valued at approximately $5,652,896.34. This trade represents a 14.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 17,201 shares of company stock worth $6,126,597. Corporate insiders own 5.19% of the company’s stock.
Corpay Company Profile
Corpay (NYSE:CPAY) is a global payments and fintech company that provides businesses with tools to manage, move and optimize corporate spend. The company focuses on commercial payments, foreign exchange and cross-border transactions, aiming to simplify treasury operations and reduce friction in business-to-business payments through technology-driven solutions.
Its product offering includes payment processing and accounts payable automation, corporate and virtual card programs, expense management tools, and foreign-exchange hedging and execution services for international payments.
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