Optimize Financial Inc Takes $357,000 Position in Corpay, Inc. (NYSE:CPAY)

Optimize Financial Inc bought a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,055 shares of the company's stock, valued at approximately $357,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Avion Wealth boosted its position in shares of Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc grew its position in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after buying an additional 60 shares during the period. Spire Wealth Management purchased a new position in Corpay in the 4th quarter valued at approximately $42,000. Assetmark Inc. raised its stake in shares of Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after buying an additional 60 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of Corpay during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analyst Ratings Changes

CPAY has been the subject of a number of recent analyst reports. Citigroup assumed coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 target price for the company. Morgan Stanley upped their price objective 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. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their target price on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Finally, Barclays lowered their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $400.38.

Insiders Place Their Bets

In related news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction that occurred 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 owns 12,215 shares in the company, 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 can be accessed through the SEC website. 6.10% of the stock is currently owned by company insiders.

Corpay Price Performance

Shares of CPAY stock traded up $1.62 during mid-day trading on Friday, hitting $308.39. 353,820 shares of the stock traded hands, compared to its average volume of 482,775. 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 company's 50-day simple moving average is $342.35 and its 200-day simple moving average is $351.72. The firm has a market cap of $21.66 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results 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%. As a group, equities research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current 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.