Long Path Partners LP Reduces Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Long Path Partners LP lessened its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 38.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,222 shares of the company's stock after selling 52,750 shares during the quarter. Corpay makes up approximately 9.1% of Long Path Partners LP's holdings, making the stock its 5th biggest holding. Long Path Partners LP owned about 0.12% of Corpay worth $28,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CPAY. Exchange Traded Concepts LLC boosted its stake in Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company's stock worth $69,000 after acquiring an additional 29 shares during the last quarter. Tealwood Asset Management Inc. increased its position in shares of Corpay by 0.7% in the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company's stock valued at $1,420,000 after buying an additional 30 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Corpay by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company's stock worth $2,018,000 after buying an additional 30 shares during the period. IFP Advisors Inc lifted its holdings in Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company's stock worth $390,000 after acquiring an additional 30 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in shares of Corpay by 3.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company's stock worth $318,000 after acquiring an additional 32 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on CPAY shares. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target for the company in a report on Wednesday, January 8th. Keefe, Bruyette & Woods lifted their target price on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Citigroup initiated coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a "buy" rating and a $430.00 price target 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 report on Thursday, February 6th. Finally, BMO Capital Markets boosted their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $401.54.

Corpay Stock Performance

CPAY stock traded up $3.27 during mid-day trading on Tuesday, hitting $291.56. 233,135 shares of the company were exchanged, compared to its average volume of 478,767. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The business has a 50 day simple moving average of $357.68 and a 200-day simple moving average of $352.91. 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 $20.48 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11.

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

Insider Buying and Selling at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.10% of the company's stock.

Corpay 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.