King Luther Capital Management Corp Sells 5,199 Shares of Corpay, Inc. (NYSE:CPAY)

King Luther Capital Management Corp trimmed its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 40.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,530 shares of the company's stock after selling 5,199 shares during the period. King Luther Capital Management Corp's holdings in Corpay were worth $2,548,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CPAY. Avion Wealth lifted its position in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc lifted its position in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 60 shares during the period. Huntington National Bank increased its holdings in shares of 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 buying an additional 40 shares in the last quarter. Quarry LP bought a new position in shares of Corpay in the third quarter valued at $42,000. Finally, Spire Wealth Management bought a new position in shares of Corpay in the fourth quarter valued at $42,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPAY has been the topic of several research reports. Morgan Stanley upped their price target on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Citigroup initiated coverage on Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a 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 report on Friday, December 13th. Finally, Raymond James dropped their price target on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Three investment 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. Based on data from MarketBeat.com, Corpay currently has an average rating of "Moderate Buy" and a consensus price target of $399.71.

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Insider Transactions at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction on 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 directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 6.10% of the stock is currently owned by company insiders.

Corpay Stock Up 3.0 %

Shares of NYSE CPAY traded up $9.72 during mid-day trading on Friday, reaching $338.14. The company had a trading volume of 319,543 shares, compared to its average volume of 461,550. Corpay, Inc. has a twelve month low of $247.10 and a twelve month 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 capitalization of $23.75 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The stock's 50 day moving average is $364.64 and its 200-day moving average is $348.86.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Corpay 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.