Cibc World Markets Corp Trims Stake in Corpay, Inc. (NYSE:CPAY)

Cibc World Markets Corp lessened its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 18.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,832 shares of the company's stock after selling 2,471 shares during the quarter. Cibc World Markets Corp's holdings in Corpay were worth $3,666,000 at the end of the most recent reporting period.

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

Corpay Trading Up 0.2 %

CPAY stock traded up $0.74 during trading on Tuesday, hitting $358.69. 300,518 shares of the company traded hands, compared to its average volume of 459,536. The company has a 50-day moving average of $364.61 and a 200-day moving average of $350.82. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The firm has a market capitalization of $25.20 billion, a PE ratio of 25.66, a P/E/G ratio of 1.32 and a beta of 1.25.

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Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) 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%. Analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of the company's 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 completion of the transaction, the director now owns 12,215 shares in the company, valued at $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 is available through this hyperlink. Insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CPAY. Wells Fargo & Company increased their price objective on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Citigroup began coverage on Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price objective for the company. Morgan Stanley raised their target price on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Finally, Raymond James cut their price target on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Three equities research 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $399.71.

Corpay Company 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.