Proficio Capital Partners LLC Takes Position in Corpay, Inc. (NYSE:CPAY)

Proficio Capital Partners LLC acquired a new position in Corpay, Inc. (NYSE:CPAY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 84,605 shares of the company's stock, valued at approximately $28,632,000. Proficio Capital Partners LLC owned approximately 0.12% of Corpay at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPAY. Avion Wealth increased its position in Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Versant Capital Management Inc increased its position in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 60 shares during the last quarter. Huntington National Bank increased its position in Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company's stock worth $42,000 after purchasing an additional 40 shares during the last quarter. Quarry LP acquired a new position in Corpay in the 3rd quarter worth about $42,000. Finally, Spire Wealth Management acquired a new position in Corpay in the 4th quarter worth about $42,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Raymond James lowered their price objective on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price for the company in a research note on Wednesday, January 8th. Morgan Stanley increased their target price on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods increased their target price on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $399.71.

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Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the firm's stock in a transaction on 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 $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.10% of the company's stock.

Corpay Price Performance

CPAY stock traded up $0.26 during midday trading on Tuesday, reaching $347.57. 408,515 shares of the company's stock traded hands, compared to its average volume of 461,108. The company has a 50-day simple moving average of $364.75 and a two-hundred day simple moving average of $349.44. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.32 and a beta of 1.25. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY - Get Free Report) last released 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%. On average, analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.