Metis Global Partners LLC Raises Holdings in Corpay, Inc. (NYSE:CPAY)

Metis Global Partners LLC lifted its holdings in Corpay, Inc. (NYSE:CPAY) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,277 shares of the company’s stock after purchasing an additional 74 shares during the quarter. Metis Global Partners LLC’s holdings in Corpay were worth $771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CPAY. Avion Wealth increased its holdings in Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after buying an additional 91 shares in the last quarter. Versant Capital Management Inc boosted 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 acquiring an additional 60 shares during the last quarter. Huntington National Bank grew its stake in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after acquiring an additional 40 shares during the period. Quarry LP purchased a new position in shares of Corpay during the third quarter valued at approximately $42,000. Finally, Spire Wealth Management bought a new position in Corpay during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CPAY. Citigroup initiated coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. Royal Bank of Canada upped their price objective on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Raymond James dropped their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley boosted their price target on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company increased their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Insider Buying and Selling

In related 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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Corpay Stock Performance

Shares of NYSE CPAY opened at $348.85 on Wednesday. The stock has a market cap of $24.32 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The firm has a fifty day moving average price of $365.51 and a 200-day moving average price of $347.04. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

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

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.