Corpay, Inc. (NYSE:CPAY) Stock Holdings Lifted by Empowered Funds LLC

Empowered Funds LLC lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 453.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,259 shares of the company's stock after purchasing an additional 5,129 shares during the quarter. Empowered Funds LLC's holdings in Corpay were worth $2,118,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Versant Capital Management Inc raised its position in shares of Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after buying an additional 60 shares during the period. Huntington National Bank raised its position in Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company's stock valued at $42,000 after purchasing an additional 40 shares during the period. Quarry LP purchased a new position in Corpay in the third quarter valued at about $42,000. Spire Wealth Management purchased a new position in Corpay in the fourth quarter valued at about $42,000. Finally, Synergy Asset Management LLC purchased a new position in Corpay in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Buying and Selling at Corpay

In other news, CAO Alissa B. Vickery sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Macchia sold 2,427 shares of the business'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 value of $910,683.21. Following the transaction, the director now owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on CPAY shares. Raymond James cut their price objective on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Wolfe Research raised Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Citigroup began coverage on Corpay in a research report on Tuesday, January 14th. They set a "buy" rating and a $430.00 target price on the stock. Finally, Morgan Stanley lifted their target price on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research report 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 issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $399.71.

Corpay Stock Performance

CPAY stock traded up $5.47 during midday trading on Tuesday, reaching $382.78. The company had a trading volume of 95,409 shares, compared to its average volume of 440,729. 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 50 day moving average price of $361.83 and a 200 day moving average price of $340.30. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a market capitalization of $26.68 billion, a PE ratio of 27.38, a P/E/G ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $4.96 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%. Analysts anticipate that Corpay, Inc. will post 20.62 earnings per share for the current year.

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.