Insider Selling: Corpay, Inc. (NYSE:CPAY) Director Sells 2,427 Shares of Stock

Corpay, Inc. (NYSE:CPAY - Get Free Report) Director Richard Macchia sold 2,427 shares of the company'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 transaction, the director now directly owns 12,215 shares of the company's stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Corpay Stock Performance

Shares of NYSE CPAY traded down $8.01 during trading on Tuesday, reaching $367.15. 106,521 shares of the stock traded hands, compared to its average volume of 449,689. The company has a 50-day moving average of $361.45 and a 200-day moving average of $337.49. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. 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 stock has a market capitalization of $25.59 billion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY - Get Free Report) last issued its 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%. Analysts forecast that Corpay, Inc. will post 20.62 EPS for the current fiscal year.

Analyst Ratings Changes

CPAY has been the subject of a number of research analyst reports. Royal Bank of Canada lifted 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. Barclays raised their target price on Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Keefe, Bruyette & Woods boosted their target price on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company increased their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Finally, BMO Capital Markets raised their price target 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. Three research 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 a consensus rating of "Moderate Buy" and an average price target of $399.71.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Swedbank AB grew its stake in shares of Corpay by 46.3% in the 3rd quarter. Swedbank AB now owns 186,117 shares of the company's stock worth $58,210,000 after buying an additional 58,900 shares during the last quarter. Oppenheimer Asset Management Inc. boosted 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 worth $1,842,000 after acquiring an additional 2,355 shares in the last quarter. Retireful LLC purchased a new stake in shares of Corpay in the third quarter worth $702,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Corpay during the third quarter valued at $527,000. Finally, Banco Santander S.A. purchased a new position in shares of Corpay in the 3rd quarter worth about $668,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

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.