Peapack Gladstone Financial Corp Buys 44 Shares of Corpay, Inc. (NYSE:CPAY)

Peapack Gladstone Financial Corp boosted its position in shares of Corpay, Inc. (NYSE:CPAY) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,460 shares of the company’s stock after purchasing an additional 44 shares during the period. Peapack Gladstone Financial Corp’s holdings in Corpay were worth $13,692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Corpay in the fourth quarter worth $241,739,000. Raymond James Financial Inc. bought a new stake in Corpay during the 4th quarter worth about $134,950,000. Boston Partners lifted its position in Corpay by 6.4% during the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock worth $694,847,000 after buying an additional 122,380 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Corpay by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after acquiring an additional 120,688 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after acquiring an additional 120,578 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Activity at Corpay

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred on 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 directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by corporate insiders.

Corpay Trading Down 9.4 %

Shares of CPAY stock opened at $287.80 on Monday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a market capitalization of $20.22 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. The firm has a 50 day moving average price of $359.52 and a two-hundred day moving average price of $353.09. 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 released 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%. As a group, analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Morgan Stanley increased 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. Raymond James cut their price objective on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada boosted their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Wells Fargo & Company increased their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $401.54.

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.