Treasurer of the State of North Carolina Sells 8,364 Shares of Corpay, Inc. (NYSE:CPAY)

Treasurer of the State of North Carolina lowered its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,906 shares of the company's stock after selling 8,364 shares during the period. Treasurer of the State of North Carolina owned about 0.05% of Corpay worth $12,490,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Avion Wealth raised 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 worth $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc grew its stake in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after acquiring an additional 60 shares during the period. Spire Wealth Management purchased a new stake in Corpay in the 4th quarter worth about $42,000. Assetmark Inc. raised its stake in Corpay by 93.8% in the 4th 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. Finally, Synergy Asset Management LLC purchased a new stake in Corpay during the fourth quarter valued at about $43,000. Institutional investors own 98.84% of the company's stock.

Corpay Price Performance

Shares of NYSE CPAY traded up $1.62 during mid-day trading on Friday, reaching $308.39. 353,820 shares of the company were exchanged, compared to its average volume of 482,775. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $21.66 billion, a PE ratio of 22.06, a PEG ratio of 1.32 and a beta of 1.11. The company's 50 day moving average price is $342.35 and its 200 day moving average price is $351.72. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released 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 net margin of 25.25% and a return on equity of 41.46%. Sell-side analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPAY has been the topic of several research reports. Wolfe Research raised shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada raised their price target on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Barclays dropped their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday. Morgan Stanley lifted their target price on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, Citigroup started coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price target on the stock. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $400.38.

Insider Buying and Selling at Corpay

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction dated 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 transaction, the director now owns 12,215 shares of the company's stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.10% of the company's stock.

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.