HighTower Advisors LLC lessened its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,771 shares of the company's stock after selling 3,212 shares during the period. HighTower Advisors LLC's holdings in Corpay were worth $6,691,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in CPAY. Swedbank AB increased its stake in shares of Corpay by 46.3% in the 3rd quarter. Swedbank AB now owns 186,117 shares of the company's stock valued at $58,210,000 after purchasing an additional 58,900 shares during the last quarter. Retireful LLC bought a new position in shares of Corpay in the 3rd quarter valued at $702,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Corpay in the 3rd quarter valued at $527,000. Allspring Global Investments Holdings LLC increased its stake in shares of Corpay by 17.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock valued at $8,067,000 after purchasing an additional 3,504 shares during the last quarter. Finally, Banco Santander S.A. acquired a new stake in shares of Corpay during the 3rd quarter valued at $668,000. Institutional investors own 98.84% of the company's stock.
Corpay Trading Down 1.6 %
Shares of NYSE:CPAY traded down $5.70 during midday trading on Friday, reaching $347.12. The company's stock had a trading volume of 475,625 shares, compared to its average volume of 459,710. The firm has a market capitalization of $24.38 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.32 and a beta of 1.25. 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 firm has a 50 day moving average price of $364.50 and a two-hundred day moving average price of $349.92. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81.
Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data 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%. As a group, analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CPAY shares. Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company raised their price objective on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Wolfe Research raised Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Raymond James cut their price objective on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Finally, Morgan Stanley raised their price objective on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Corpay has an average rating of "Moderate Buy" and an average price target of $399.71.
Get Our Latest Research Report on CPAY
Insider Activity at Corpay
In related news, Director Richard Macchia sold 2,427 shares of the business's stock in a transaction dated 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 $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.10% of the stock is currently owned by corporate insiders.
Corpay Company Profile
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Free Report)
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.
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