SVB Wealth LLC Makes New Investment in Corpay, Inc. (NYSE:CPAY)

SVB Wealth LLC purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 16,080 shares of the company's stock, valued at approximately $5,442,000.

Several other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Corpay by 2.3% in the third 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 in the last quarter. Prana Capital Management LP bought a new stake in Corpay during the 3rd quarter valued at $31,541,000. Proficio Capital Partners LLC bought a new stake in Corpay during the 4th quarter valued at $28,632,000. Swedbank AB lifted its position in shares of Corpay by 44.9% during the fourth quarter. Swedbank AB now owns 269,717 shares of the company's stock worth $91,278,000 after acquiring an additional 83,600 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company's stock worth $842,215,000 after acquiring an additional 78,880 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CPAY. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective on the stock in a research note on Wednesday, January 8th. BMO Capital Markets upped their price target on Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, Morgan Stanley increased their target price 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. Three investment 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $399.71.

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Corpay Price Performance

CPAY traded up $7.64 during midday trading on Wednesday, hitting $356.91. The stock had a trading volume of 410,063 shares, compared to its average volume of 475,837. The company has a market cap of $25.07 billion, a P/E ratio of 25.53, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The business has a fifty day moving average of $365.73 and a 200 day moving average of $347.11. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. As a group, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was 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 owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Corpay 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.