Capital Investment Services of America Inc. Trims Holdings in Corpay, Inc. (NYSE:CPAY)

Capital Investment Services of America Inc. cut its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,336 shares of the company's stock after selling 1,379 shares during the period. Corpay comprises 2.5% of Capital Investment Services of America Inc.'s portfolio, making the stock its 18th biggest position. Capital Investment Services of America Inc. owned 0.11% of Corpay worth $26,172,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Corpay by 37.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,292 shares of the company's stock valued at $2,146,000 after purchasing an additional 1,712 shares in the last quarter. Y.D. More Investments Ltd boosted its position in Corpay by 7.7% during the 4th quarter. Y.D. More Investments Ltd now owns 461 shares of the company's stock valued at $156,000 after acquiring an additional 33 shares in the last quarter. One Wealth Advisors LLC purchased a new position in shares of Corpay in the 4th quarter valued at $276,000. Spire Wealth Management bought a new position in shares of Corpay in the 4th quarter worth $42,000. Finally, Journey Strategic Wealth LLC purchased a new stake in shares of Corpay during the 4th quarter worth $499,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research note on Thursday. Bank of America lifted their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Royal Bank of Canada increased their target price on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday. Jefferies Financial Group lifted their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, Barclays increased their price objective on Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Three research 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, the company presently has an average rating of "Moderate Buy" and an average target price of $399.71.

Insider Transactions at Corpay

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

Corpay Stock Performance

Shares of Corpay stock traded down $14.02 on Friday, reaching $375.53. 604,031 shares of the stock were exchanged, compared to its average volume of 425,552. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The business has a 50 day moving average price of $361.61 and a two-hundred day moving average price of $336.51. 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 firm has a market capitalization of $26.18 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data 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 anticipate that Corpay, Inc. will post 20.62 earnings per share for the current fiscal 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.