Wellington Management Group LLP Has $330.17 Million Stake in Corpay, Inc. (NYSE:CPAY)

Wellington Management Group LLP cut its stake in Corpay, Inc. (NYSE:CPAY) by 65.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 975,607 shares of the company’s stock after selling 1,882,498 shares during the period. Wellington Management Group LLP owned approximately 1.39% of Corpay worth $330,165,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Avion Wealth grew its position in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc grew its stake in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares in the last quarter. Quarry LP acquired a new position in shares of Corpay during the 3rd quarter worth approximately $42,000. Spire Wealth Management bought a new position in shares of Corpay in the fourth quarter valued at $42,000. Finally, Assetmark Inc. raised its position in Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 0.9 %

CPAY opened at $351.87 on Wednesday. The company has a market cap of $24.72 billion, a P/E ratio of 25.17, a PEG ratio of 1.32 and a beta of 1.25. 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 company’s 50 day moving average is $362.83 and its 200-day moving average is $352.79. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81.

Corpay (NYSE:CPAY) last issued its earnings results 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%. Equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CPAY has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Raymond James reduced their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada raised their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a 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 price objective on the stock in a research report on Wednesday, January 8th. Finally, Citigroup initiated coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Profile

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.