MetLife Investment Management LLC Acquires 242 Shares of Corpay, Inc. (NYSE:CPAY)

MetLife Investment Management LLC raised its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,385 shares of the company’s stock after buying an additional 242 shares during the quarter. MetLife Investment Management LLC’s holdings in Corpay were worth $7,237,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Corpay by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after acquiring an additional 120,688 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares in the last quarter. Boston Partners increased its position in shares of Corpay by 6.4% during 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 period. Geode Capital Management LLC raised its stake in shares of Corpay by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company’s stock valued at $584,962,000 after purchasing an additional 54,894 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Corpay by 163.7% in the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock worth $570,801,000 after purchasing an additional 1,047,080 shares during the period. 98.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the sale, the director now directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.10% of the company’s stock.

Corpay Stock Performance

Corpay stock opened at $308.02 on Wednesday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The stock has a 50-day simple moving average of $338.56 and a 200 day simple moving average of $351.62. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $21.64 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY) last announced 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 return on equity of 41.46% and a net margin of 25.25%. On average, research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CPAY shares. Morgan Stanley increased their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Barclays dropped their price target on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Wells Fargo & Company upped their price objective on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $400.38.

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.