Aviance Capital Partners LLC cut its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,023 shares of the company's stock after selling 4,156 shares during the period. Corpay makes up approximately 0.7% of Aviance Capital Partners LLC's investment portfolio, making the stock its 28th largest holding. Aviance Capital Partners LLC's holdings in Corpay were worth $5,423,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock valued at $1,653,659,000 after purchasing an additional 120,578 shares in 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 valued at $842,215,000 after purchasing an additional 78,880 shares in 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 valued at $523,061,000 after purchasing an additional 23,275 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Corpay by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company's stock valued at $160,904,000 after purchasing an additional 16,981 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Corpay during the fourth quarter worth about $134,950,000. 98.84% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
CPAY has been the topic of several analyst reports. Raymond James dropped their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. BMO Capital Markets upped their target price on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Morgan Stanley upped their target price on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Wells Fargo & Company upped their target price on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their target price on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Corpay currently has an average rating of "Moderate Buy" and a consensus price target of $399.71.
Check Out Our Latest Report on CPAY
Insider Activity
In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred 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 sale, the director now owns 12,215 shares of the company's stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.10% of the stock is owned by company insiders.
Corpay Stock Performance
Shares of Corpay stock traded down $6.98 on Friday, hitting $335.78. The stock had a trading volume of 850,856 shares, compared to its average volume of 486,560. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The business's 50 day moving average is $365.56 and its two-hundred day moving average is $347.77. 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 cap of $23.59 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.
Corpay (NYSE:CPAY - Get Free Report) 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 forecast that Corpay, Inc. will post 19.76 EPS for the current year.
About Corpay
(
Free Report)
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.
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