Wilkins Investment Counsel Inc. Boosts Stake in Corpay, Inc. (NYSE:CPAY)

Wilkins Investment Counsel Inc. increased its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,345 shares of the company's stock after purchasing an additional 1,005 shares during the period. Wilkins Investment Counsel Inc.'s holdings in Corpay were worth $9,254,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Avion Wealth boosted its position in shares of Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after acquiring an additional 60 shares in the last quarter. Huntington National Bank grew its stake in Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company's stock valued at $42,000 after acquiring an additional 40 shares during the period. Quarry LP acquired a new stake in Corpay in the third quarter valued at approximately $42,000. Finally, Spire Wealth Management bought a new stake in shares of Corpay during the fourth quarter valued at approximately $42,000. 98.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction on Monday, February 10th. The shares were 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 owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by company insiders.

Remove Ads

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of recent research reports. Wolfe Research raised shares of 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 raised their price target on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Royal Bank of Canada boosted their price objective on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Wells Fargo & Company raised their target price on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Finally, 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. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Corpay has an average rating of "Moderate Buy" and an average price target of $399.71.

Corpay Stock Performance

NYSE:CPAY traded up $11.30 during trading hours on Monday, reaching $357.99. The stock had a trading volume of 435,549 shares, compared to its average volume of 459,629. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The stock has a market cap of $25.15 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The stock has a 50 day simple moving average of $364.61 and a 200 day simple moving average of $350.82.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. On average, research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.