Vista Investment Partners II LLC acquired a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,633 shares of the company's stock, valued at approximately $891,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Avion Wealth lifted its holdings in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after acquiring an additional 91 shares during the period. Versant Capital Management Inc increased its holdings in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company's stock valued at $36,000 after purchasing an additional 60 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Corpay during the 4th quarter valued at approximately $42,000. Assetmark Inc. lifted its stake in shares of Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after purchasing an additional 60 shares during the period. Finally, Huntington National Bank boosted its holdings in Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company's stock worth $42,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.
Insider Buying and Selling
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 stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the transaction, the director now directly owns 12,215 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 6.10% of the stock is owned by company insiders.
Corpay Price Performance
Shares of NYSE:CPAY traded down $5.74 during midday trading on Thursday, hitting $328.18. The company's stock had a trading volume of 492,160 shares, compared to its average volume of 495,630. The company has a market cap of $23.05 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The business's 50 day simple moving average is $364.94 and its 200 day simple moving average is $348.42. Corpay, Inc. has a 12-month low of $247.10 and a 12-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.
Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. On average, analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on CPAY shares. Wells Fargo & Company upped 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. Morgan Stanley upped their price target on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Wolfe Research raised Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $399.71.
Check Out Our Latest Research Report on CPAY
About Corpay
(
Free Report)
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.
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