American Century Companies Inc. Boosts Holdings in Corpay, Inc. (NYSE:CPAY)

American Century Companies Inc. raised its stake in shares of Corpay, Inc. (NYSE:CPAY) by 10.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 458,868 shares of the company’s stock after purchasing an additional 44,190 shares during the period. American Century Companies Inc. owned 0.66% of Corpay worth $155,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPAY. Raymond James Financial Inc. purchased a new position in shares of Corpay in the fourth quarter worth about $134,950,000. Boston Partners lifted its stake in shares of Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company’s stock worth $694,847,000 after buying an additional 122,380 shares in the last quarter. JPMorgan Chase & Co. lifted its stake 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 worth $1,653,659,000 after buying an additional 120,578 shares in the last quarter. Prana Capital Management LP purchased a new position in shares of Corpay in the third quarter worth about $31,541,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Corpay in the fourth quarter worth about $28,632,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Price Performance

Shares of CPAY opened at $347.12 on Friday. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The stock has a market cap of $24.38 billion, a PE ratio of 24.83, a P/E/G ratio of 1.32 and a beta of 1.25. The firm has a 50-day simple moving average of $364.50 and a two-hundred day simple moving average of $350.17. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY) last announced its quarterly 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%. As a group, analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Citigroup assumed coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Royal Bank of Canada raised their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. BMO Capital Markets raised their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Morgan Stanley raised their price objective on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred on 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 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 SEC, which is accessible through this hyperlink. Company insiders own 6.10% of the company’s stock.

Corpay Company 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.