Commerce Bank Has $9.34 Million Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Commerce Bank decreased its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,586 shares of the company's stock after selling 2,095 shares during the quarter. Commerce Bank's holdings in Corpay were worth $9,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Avion Wealth lifted its stake 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 in the last quarter. Versant Capital Management Inc boosted its holdings in Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company's stock valued at $36,000 after acquiring an additional 60 shares during the period. Spire Wealth Management bought a new position in Corpay in the 4th quarter worth about $42,000. Assetmark Inc. lifted its holdings in shares of Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after buying an additional 60 shares during the period. Finally, Synergy Asset Management LLC purchased a new stake in shares of Corpay in the 4th quarter worth approximately $43,000. Institutional investors own 98.84% of the company's stock.

Corpay Stock Up 2.4 %

NYSE CPAY traded up $7.50 during trading hours on Wednesday, reaching $315.27. 369,650 shares of the company traded hands, compared to its average volume of 482,702. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $22.15 billion, a PE ratio of 22.55, a PEG ratio of 1.32 and a beta of 1.11. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The company has a 50 day moving average of $338.56 and a two-hundred day moving average of $351.62.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. As a group, equities analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the business'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 sale, the director now directly owns 12,215 shares of the company's stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CPAY shares. Keefe, Bruyette & Woods increased their target price on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Raymond James reduced their price target on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada upped their price objective on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Morgan Stanley upped their price target on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Wolfe Research raised shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target on the stock in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $400.38.

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.