Gallacher Capital Management LLC Boosts Stock Position in Corpay, Inc. (NYSE:CPAY)

Gallacher Capital Management LLC lifted its position in Corpay, Inc. (NYSE:CPAY) by 43.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,061 shares of the company’s stock after purchasing an additional 323 shares during the quarter. Gallacher Capital Management LLC’s holdings in Corpay were worth $359,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPAY. Exchange Traded Concepts LLC boosted its holdings in Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $69,000 after acquiring an additional 29 shares during the period. Tealwood Asset Management Inc. boosted its holdings in Corpay by 0.7% during the 4th 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 boosted its holdings in Corpay by 0.5% during 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 boosted its holdings in Corpay by 2.7% during the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock valued at $390,000 after acquiring an additional 30 shares during the period. Finally, Lake Street Advisors Group LLC boosted its holdings in Corpay by 3.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock valued at $318,000 after acquiring an additional 32 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 of the company’s stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is owned by corporate insiders.

Corpay Stock Up 3.0 %

Shares of NYSE:CPAY opened at $338.14 on Monday. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The firm has a market capitalization of $23.75 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.32 and a beta of 1.25. The stock has a 50 day moving average price of $364.64 and a 200-day moving average price of $349.17. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY) last posted 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%. As a group, equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CPAY shares. Morgan Stanley increased their target price on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. BMO Capital Markets increased their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company upped their price target on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. 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. Finally, Citigroup initiated coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $399.71.

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.