Corpay, Inc. (NYSE:CPAY) Sees Significant Growth in Short Interest

Corpay, Inc. (NYSE:CPAY - Get Free Report) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 2,040,000 shares, an increase of 31.6% from the February 13th total of 1,550,000 shares. Based on an average daily volume of 474,100 shares, the days-to-cover ratio is presently 4.3 days. Approximately 3.0% of the company's stock are sold short.

Corpay Stock Performance

Shares of CPAY stock traded up $0.64 during trading hours on Thursday, hitting $352.98. The company's stock had a trading volume of 289,577 shares, compared to its average volume of 459,765. The company has a 50 day moving average of $364.64 and a 200 day moving average of $349.68. The stock has a market cap of $24.80 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay has a 12-month low of $247.10 and a 12-month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data 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, sell-side analysts forecast that Corpay will post 19.76 EPS for the current fiscal year.

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Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the business's stock in a transaction dated Monday, February 10th. The shares were 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 owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.10% of the company's stock.

Institutional Trading of Corpay

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Corpay by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock worth $2,623,702,000 after buying an additional 120,688 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Corpay by 20.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after buying an additional 1,000,699 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after buying an additional 120,578 shares in the last quarter. FMR LLC lifted its holdings in Corpay by 3.0% during the third quarter. FMR LLC now owns 2,692,847 shares of the company's stock valued at $842,215,000 after purchasing an additional 78,880 shares in the last quarter. Finally, Boston Partners lifted its holdings in Corpay by 6.4% during the fourth quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after purchasing an additional 122,380 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective for the company in a research note on Wednesday, January 8th. Finally, Raymond James reduced their price objective 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 investment 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.