Corpay, Inc. (NYSE:CPAY) Holdings Cut by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in shares of Corpay, Inc. (NYSE:CPAY) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,207 shares of the company’s stock after selling 115 shares during the quarter. State of Alaska Department of Revenue’s holdings in Corpay were worth $10,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CPAY. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Corpay by 16.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,027 shares of the company’s stock valued at $274,000 after buying an additional 148 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Corpay in the 2nd quarter worth approximately $515,000. Park Avenue Securities LLC acquired a new stake in Corpay in the 3rd quarter valued at approximately $454,000. Czech National Bank raised its stake in Corpay by 5.6% during the 3rd quarter. Czech National Bank now owns 14,144 shares of the company’s stock valued at $4,424,000 after acquiring an additional 753 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Corpay by 52.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,178 shares of the company’s stock worth $368,000 after acquiring an additional 403 shares during the period. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 0.2 %

Shares of Corpay stock opened at $389.35 on Friday. The stock’s fifty day moving average is $361.54 and its 200-day moving average is $335.21. The firm has a market capitalization of $27.14 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

Corpay (NYSE:CPAY) last released 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 39.44% and a net margin of 26.14%. Equities analysts anticipate that Corpay, Inc. will post 17.84 earnings per share for the current year.

Insider Buying and Selling at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the transaction, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the sale, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Raymond James dropped their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research note on Wednesday, January 8th. Morgan Stanley raised their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Wells Fargo & Company upped their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Three 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, Corpay has a consensus rating of “Moderate Buy” and a consensus 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.