Envestnet Portfolio Solutions Inc. Grows Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Envestnet Portfolio Solutions Inc. increased its stake in Corpay, Inc. (NYSE:CPAY) by 2.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,768 shares of the company’s stock after buying an additional 110 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Corpay were worth $1,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CPAY. Natixis Advisors LLC lifted its stake in shares of Corpay by 94.3% in the third quarter. Natixis Advisors LLC now owns 27,453 shares of the company’s stock worth $8,586,000 after buying an additional 13,322 shares in the last quarter. Quest Partners LLC raised its holdings in Corpay by 97.1% in the 3rd quarter. Quest Partners LLC now owns 2,691 shares of the company’s stock worth $842,000 after acquiring an additional 1,326 shares during the last quarter. Pathstone Holdings LLC lifted its position in Corpay by 3.9% in the 3rd quarter. Pathstone Holdings LLC now owns 5,487 shares of the company’s stock valued at $1,716,000 after acquiring an additional 206 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Corpay during the 3rd quarter valued at $527,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Corpay by 32.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,334 shares of the company’s stock worth $1,981,000 after purchasing an additional 1,546 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction 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. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Corpay from $350.00 to $380.00 and gave the company an “equal weight” 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 price target for the company in a research note on Wednesday, January 8th. Royal Bank of Canada raised 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. Wells Fargo & Company boosted their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Citigroup began coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Corpay has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Price Performance

NYSE CPAY opened at $347.12 on Friday. The company’s 50 day moving average is $364.50 and its two-hundred day moving average is $349.92. 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 stock has a market cap of $24.38 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 12 month low of $247.10 and a 12 month 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 the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, research 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.