Generate Investment Management Ltd Has $18.71 Million Holdings in Corpay, Inc. (NYSE:CPAY)

Generate Investment Management Ltd trimmed its position in shares of Corpay, Inc. (NYSE:CPAY) by 43.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,282 shares of the company’s stock after selling 42,874 shares during the period. Corpay makes up approximately 1.3% of Generate Investment Management Ltd’s investment portfolio, making the stock its 25th largest position. Generate Investment Management Ltd owned about 0.08% of Corpay worth $18,709,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CPAY. JPMorgan Chase & Co. lifted its position 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 buying an additional 120,578 shares during the last quarter. FMR LLC lifted its holdings in shares of Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after acquiring an additional 78,880 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Corpay by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after acquiring an additional 23,275 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Corpay by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock valued at $143,393,000 after purchasing an additional 1,749 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Corpay by 2.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock valued at $111,779,000 after purchasing an additional 8,378 shares during the last quarter. 98.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on CPAY shares. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group raised their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Citigroup began coverage on Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. Raymond James cut their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Morgan Stanley boosted their price target on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday. Three investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $399.71.

Corpay Stock Performance

Shares of Corpay stock opened at $389.35 on Friday. The company has a market cap of $27.14 billion, a P/E ratio of 27.77, a PEG ratio of 1.30 and a beta of 1.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The business has a 50-day moving average price of $361.72 and a two-hundred day moving average price of $335.59. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81.

Corpay (NYSE:CPAY) last released 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 return on equity of 39.44% and a net margin of 26.14%. As a group, analysts anticipate that Corpay, Inc. will post 17.84 EPS for the current year.

Insider Activity

In other news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the transaction, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

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.