Teacher Retirement System of Texas Buys Shares of 8,425 Corpay, Inc. (NYSE:CPAY)

Teacher Retirement System of Texas bought a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,425 shares of the company’s stock, valued at approximately $2,851,000.

A number of other hedge funds have also recently bought and sold shares of CPAY. Royal London Asset Management Ltd. raised its position in shares of Corpay by 6.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 31,690 shares of the company’s stock valued at $10,725,000 after buying an additional 2,007 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Corpay during the fourth quarter valued at about $176,000. Vinva Investment Management Ltd raised its holdings in Corpay by 14.3% in the 4th quarter. Vinva Investment Management Ltd now owns 4,912 shares of the company’s stock valued at $1,658,000 after acquiring an additional 614 shares in the last quarter. Boston Partners lifted its position in shares of Corpay by 6.4% in the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock worth $694,847,000 after acquiring an additional 122,380 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Corpay during the 4th quarter worth approximately $867,000. 98.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CPAY shares. Wells Fargo & Company upped their target price on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Citigroup began coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Raymond James decreased 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. BMO Capital Markets upped 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. Finally, Royal Bank of Canada upped their price objective on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $399.71.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is currently owned by corporate insiders.

Corpay Stock Performance

CPAY stock opened at $358.69 on Wednesday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. 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 market cap of $25.20 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The business’s fifty day moving average is $364.62 and its 200-day moving average is $351.21.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 EPS 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%. Equities research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

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.