Martin & Co. Inc. TN reduced its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,247 shares of the company's stock after selling 811 shares during the period. Corpay makes up approximately 1.4% of Martin & Co. Inc. TN's portfolio, making the stock its 18th largest position. Martin & Co. Inc. TN's holdings in Corpay were worth $5,837,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB increased its holdings in Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company's stock valued at $58,210,000 after buying an additional 58,900 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company's stock valued at $1,842,000 after buying an additional 2,355 shares in the last quarter. Retireful LLC purchased a new position in Corpay in the third quarter valued at about $702,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Corpay in the third quarter valued at about $527,000. Finally, Banco Santander S.A. purchased a new position in shares of Corpay during the 3rd quarter worth approximately $668,000. 98.84% of the stock is owned by hedge funds and other institutional investors.
Corpay Trading Down 2.6 %
Shares of NYSE CPAY traded down $9.79 during trading on Thursday, hitting $368.47. 357,270 shares of the company traded hands, compared to its average volume of 448,851. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The company has a 50-day moving average price of $362.68 and a 200-day moving average price of $341.35. The firm has a market capitalization of $25.69 billion, a P/E ratio of 26.36, a P/E/G ratio of 1.38 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.
Corpay (NYSE:CPAY - Get Free Report) last announced 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%. On average, equities analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.
Insider Buying and Selling
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 transaction 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 approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CPAY. Keefe, Bruyette & Woods raised 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. Morgan Stanley raised their price objective on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. BMO Capital Markets raised their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Royal Bank of Canada raised 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. Finally, Wolfe Research raised 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. Three 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $399.71.
Read Our Latest Stock Report on CPAY
Corpay Profile
(
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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