Maryland State Retirement & Pension System Sells 350 Shares of Corpay, Inc. (NYSE:CPAY)

Maryland State Retirement & Pension System lowered its stake in Corpay, Inc. (NYSE:CPAY) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,603 shares of the company’s stock after selling 350 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Corpay were worth $1,219,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Corpay in the fourth quarter valued at approximately $134,950,000. Boston Partners raised its holdings in shares of Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company’s stock valued at $694,847,000 after purchasing an additional 122,380 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares during the last quarter. Prana Capital Management LP acquired a new stake in shares of Corpay in the third quarter valued at approximately $31,541,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Corpay in the fourth quarter valued at approximately $28,632,000. Institutional investors own 98.84% of the company’s stock.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated 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 sale, the director now owns 12,215 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. 6.10% of the stock is currently owned by company insiders.

Corpay Trading Down 1.6 %

Shares of Corpay stock opened at $347.12 on Friday. The firm has a 50-day moving average of $364.50 and a 200-day moving average of $350.17. The stock has a market cap of $24.38 billion, a PE ratio of 24.83, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY) last announced its earnings results 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 net margin of 25.25% and a return on equity of 41.46%. As a group, sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. 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 report on Thursday, February 6th. Royal Bank of Canada boosted their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a report on Wednesday, January 8th. Citigroup assumed coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Finally, BMO Capital Markets boosted their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report 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’s stock. According to data from MarketBeat, the company 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.