Corpay, Inc. (NYSE:CPAY) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC raised its holdings in Corpay, Inc. (NYSE:CPAY) by 109.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,307 shares of the company’s stock after buying an additional 4,345 shares during the period. Ieq Capital LLC’s holdings in Corpay were worth $2,811,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Avion Wealth increased its holdings in shares of 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 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 valued at $36,000 after purchasing an additional 60 shares in the last quarter. Huntington National Bank increased 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 purchasing an additional 40 shares during the last quarter. Quarry LP acquired a new stake in Corpay during the third quarter worth approximately $42,000. Finally, Spire Wealth Management purchased a new stake in shares of Corpay during the 4th quarter worth approximately $42,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CPAY. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Barclays boosted their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods upped their target price on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets lifted their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $399.71.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of the firm’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 sale, the director now owns 12,215 shares in the company, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.10% of the company’s stock.

Corpay Trading Down 1.4 %

NYSE:CPAY opened at $363.66 on Friday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock’s 50 day simple moving average is $362.96 and its 200-day simple moving average is $342.71. The firm has a market cap of $25.35 billion, a P/E ratio of 26.01, a PEG ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last announced its quarterly earnings data 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%. Equities analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current 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.