Lecap Asset Management Ltd. Reduces Stock Position in Corpay, Inc. (NYSE:CPAY)

Lecap Asset Management Ltd. reduced its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 55.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,841 shares of the company's stock after selling 4,790 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Corpay were worth $1,300,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Corpay during the third quarter valued at $40,497,000. JPMorgan Chase & Co. raised its position in shares of Corpay by 2.3% during the 3rd 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. Prana Capital Management LP purchased a new position in Corpay in the 3rd quarter valued at about $31,541,000. Swedbank AB boosted its holdings in Corpay by 44.9% in the 4th quarter. Swedbank AB now owns 269,717 shares of the company's stock worth $91,278,000 after buying an additional 83,600 shares during the last quarter. Finally, FMR LLC increased its stake 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 buying an additional 78,880 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CPAY. Citigroup assumed coverage on Corpay in a research report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 target price on the stock. Royal Bank of Canada lifted their target price 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 target price for the company in a research report on Wednesday, January 8th. BMO Capital Markets boosted their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, Morgan Stanley increased their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Three equities research 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $399.71.

Insiders Place Their Bets

In other Corpay 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 transaction of $910,683.21. Following the sale, the director now directly owns 12,215 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the sale, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,402 shares of company stock worth $4,987,164 over the last ninety days. Corporate insiders own 6.10% of the company's stock.

Corpay Trading Down 1.6 %

Shares of NYSE CPAY traded down $6.04 during mid-day trading on Tuesday, reaching $369.11. 448,807 shares of the company's stock were exchanged, compared to its average volume of 461,756. The company's 50-day moving average is $361.45 and its 200-day moving average is $337.49. 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 market capitalization of $25.73 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.33 and a beta of 1.28. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last issued 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 return on equity of 41.46% and a net margin of 25.25%. Analysts expect that Corpay, Inc. will post 20.62 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.