Corpay, Inc. (NYSE:CPAY) Stake Decreased by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC reduced its stake in Corpay, Inc. (NYSE:CPAY) by 0.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 235,513 shares of the company’s stock after selling 290 shares during the quarter. Corpay accounts for approximately 4.0% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 6th largest holding. Cornerstone Investment Partners LLC owned 0.34% of Corpay worth $79,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Avion Wealth raised its stake in Corpay by 1,011.1% in the 4th 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 raised its stake in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 60 shares during the period. Spire Wealth Management bought a new stake in Corpay in the 4th quarter valued at about $42,000. Huntington National Bank raised its stake in Corpay by 43.0% in the 3rd 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. Finally, Quarry LP bought a new stake in Corpay in the 3rd quarter valued at about $42,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction 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 completion of the transaction, the director now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is owned by corporate insiders.

Corpay Stock Performance

NYSE:CPAY opened at $365.32 on Tuesday. The firm has a market cap of $25.47 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week 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. The business has a 50 day moving average price of $365.46 and a 200-day moving average price of $346.65.

Corpay (NYSE:CPAY) 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 net margin of 25.25% and a return on equity of 41.46%. Equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CPAY shares. Wells Fargo & Company boosted their price objective on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Morgan Stanley upped their price target on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods upped their price target on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Raymond James decreased their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Finally, Wolfe Research upgraded 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. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $399.71.

About Corpay

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.