Cumberland Partners Ltd Invests $677,000 in Corpay, Inc. (NYSE:CPAY)

Cumberland Partners Ltd purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,000 shares of the company's stock, valued at approximately $677,000.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 120,578 shares during the last quarter. FMR LLC grew its position in Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company's stock worth $842,215,000 after purchasing an additional 78,880 shares during the period. Geode Capital Management LLC raised its stake in shares of Corpay by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company's stock valued at $523,061,000 after buying an additional 23,275 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Corpay by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company's stock valued at $143,393,000 after buying an additional 1,749 shares during the period. Finally, Eagle Asset Management Inc. boosted its stake in shares of Corpay by 2.4% in the third quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company's stock worth $111,779,000 after buying an additional 8,378 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CPAY. Royal Bank of Canada lifted their price target on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Wolfe Research raised shares of 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. Morgan Stanley raised their price target 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. Citigroup began coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their target price 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. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $399.71.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.10% of the company's stock.

Corpay Price Performance

NYSE:CPAY traded down $5.33 during trading hours on Friday, hitting $363.66. 341,615 shares of the stock were exchanged, compared to its average volume of 445,695. The firm's fifty day moving average price is $362.83 and its 200 day moving average price is $341.54. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a market cap of $25.35 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.35 and a beta of 1.28. 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 (NYSE:CPAY - Get Free Report) last posted 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%. As a group, equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal 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.