Prudential Financial Inc. Sells 5,094 Shares of Corpay, Inc. (NYSE:CPAY)

Prudential Financial Inc. decreased its stake in Corpay, Inc. (NYSE:CPAY) by 12.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,355 shares of the company’s stock after selling 5,094 shares during the period. Prudential Financial Inc.’s holdings in Corpay were worth $11,965,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Exchange Traded Concepts LLC boosted its position in Corpay by 16.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $69,000 after purchasing an additional 29 shares during the last quarter. Tealwood Asset Management Inc. boosted its holdings in shares of Corpay by 0.7% in the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after buying an additional 30 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Corpay by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock valued at $2,018,000 after buying an additional 30 shares in the last quarter. IFP Advisors Inc increased its holdings in Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock worth $390,000 after buying an additional 30 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its position in Corpay by 3.5% during the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Down 2.4 %

Shares of CPAY opened at $346.79 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $24.36 billion, a PE ratio of 24.81, a P/E/G ratio of 1.32 and a beta of 1.25. The firm’s 50 day moving average is $363.75 and its 200-day moving average is $351.56. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81.

Corpay (NYSE:CPAY) last posted 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 return on equity of 41.46% and a net margin of 25.25%. Equities research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the 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 sale, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CPAY. Morgan Stanley lifted their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Citigroup started coverage on Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Royal Bank of Canada boosted their target price on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Finally, BMO Capital Markets increased their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Corpay has an average rating of “Moderate Buy” and an average target price 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.