Alliancebernstein L.P. Sells 3,165 Shares of Corpay, Inc. (NYSE:CPAY)

Alliancebernstein L.P. trimmed its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,288 shares of the company's stock after selling 3,165 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Corpay worth $25,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Centiva Capital LP acquired a new position in shares of Corpay in the 3rd quarter worth $334,000. Hilltop Holdings Inc. purchased a new position in Corpay in the 3rd quarter worth about $206,000. HighTower Advisors LLC raised its holdings in Corpay by 1.0% during the 3rd quarter. HighTower Advisors LLC now owns 22,983 shares of the company's stock worth $7,179,000 after buying an additional 217 shares during the period. Janus Henderson Group PLC lifted its stake in Corpay by 14.8% during the third quarter. Janus Henderson Group PLC now owns 7,861 shares of the company's stock valued at $2,460,000 after buying an additional 1,014 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Corpay in the third quarter worth about $5,606,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Insiders Place Their Bets

In other news, Director Richard Macchia sold 2,427 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CPAY shares. Citigroup started coverage on shares of Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price target on the stock. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. Raymond James decreased their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. BMO Capital Markets upped their price target on Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Finally, Royal Bank of Canada raised 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. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $401.54.

Corpay Stock Up 1.7 %

Shares of NYSE CPAY traded up $5.22 during mid-day trading on Friday, reaching $304.96. 457,902 shares of the company traded hands, compared to its average volume of 483,835. The company's fifty day moving average is $348.19 and its two-hundred day moving average is $352.04. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The stock has a market cap of $21.42 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results 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%. On average, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current 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.