Long Path Partners LP Sells 52,750 Shares of Corpay, Inc. (NYSE:CPAY)

Long Path Partners LP lessened its stake in Corpay, Inc. (NYSE:CPAY) by 38.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 83,222 shares of the company’s stock after selling 52,750 shares during the period. Corpay comprises 9.1% of Long Path Partners LP’s portfolio, making the stock its 5th largest holding. Long Path Partners LP’s holdings in Corpay were worth $28,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in shares of Corpay by 16.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $69,000 after purchasing an additional 29 shares during the period. Tealwood Asset Management Inc. boosted its holdings in shares of Corpay by 0.7% in the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after acquiring an additional 30 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Corpay by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock valued at $2,018,000 after acquiring an additional 30 shares during the period. IFP Advisors Inc raised its position in Corpay by 2.7% in the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock valued at $390,000 after purchasing an additional 30 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in Corpay by 3.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Corpay stock opened at $359.56 on Thursday. The firm has a market capitalization of $25.26 billion, a PE ratio of 25.72, a P/E/G ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The firm’s 50-day simple moving average is $362.55 and its 200 day simple moving average is $352.84. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

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

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup assumed coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is owned by insiders.

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.