Mitsubishi UFJ Trust & Banking Corp Grows Holdings in Corpay, Inc. (NYSE:CPAY)

Mitsubishi UFJ Trust & Banking Corp increased its stake in Corpay, Inc. (NYSE:CPAY) by 14.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 35,988 shares of the company’s stock after acquiring an additional 4,629 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Corpay were worth $12,179,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avion Wealth boosted its stake in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Corpay by 130.4% in the 4th 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 bought a new position in shares of Corpay during the third quarter worth about $42,000. Spire Wealth Management acquired a new position in Corpay in the fourth quarter worth about $42,000. Finally, Assetmark Inc. increased its holdings in Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock valued at $42,000 after buying an additional 60 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Royal Bank of Canada raised their price objective on 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 boosted 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. Keefe, Bruyette & Woods raised their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a report on Wednesday, January 8th. Three equities 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. Based on data from MarketBeat.com, Corpay presently has a consensus 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 the 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 transaction, the director now owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 6.10% of the company’s stock.

Corpay Price Performance

Shares of NYSE:CPAY opened at $346.79 on Friday. The firm’s 50 day moving average is $363.75 and its two-hundred day moving average is $351.85. The firm has a market capitalization of $24.36 billion, a P/E ratio of 24.81, 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. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. Analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.