Provident Investment Management Inc. Sells 4,110 Shares of Corpay, Inc. (NYSE:CPAY)

Provident Investment Management Inc. lowered its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,975 shares of the company's stock after selling 4,110 shares during the quarter. Corpay comprises about 6.8% of Provident Investment Management Inc.'s portfolio, making the stock its 4th largest position. Provident Investment Management Inc. owned 0.30% of Corpay worth $71,398,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Avion Wealth boosted its holdings 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 buying an additional 91 shares in the last quarter. Versant Capital Management Inc boosted its stake in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 60 shares in the last quarter. Quarry LP acquired a new position in shares of Corpay in the 3rd quarter valued at about $42,000. Spire Wealth Management acquired a new stake in Corpay during the fourth quarter worth about $42,000. Finally, Assetmark Inc. lifted its holdings in Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after acquiring an additional 60 shares during the period. Institutional investors own 98.84% of the company's stock.

Corpay Stock Down 2.0 %

Shares of Corpay stock traded down $5.71 on Wednesday, reaching $277.36. 101,726 shares of the company were exchanged, compared to its average volume of 479,483. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The stock's 50 day moving average price is $353.71 and its 200-day moving average price is $352.22. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The company has a market cap of $19.48 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY - Get Free Report) last announced 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 analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CPAY. Citigroup began coverage on shares of Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 target price for the company. Raymond James dropped their price objective on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target for the company in a research report on Wednesday, January 8th. BMO Capital Markets boosted their price objective on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company lifted their price target on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $401.54.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the firm's stock in a transaction that occurred on 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. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.10% of the company's stock.

About Corpay

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.