Rhumbline Advisers Sells 2,385 Shares of Corpay, Inc. (NYSE:CPAY)

Rhumbline Advisers lessened its position in Corpay, Inc. (NYSE:CPAY) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 138,220 shares of the company’s stock after selling 2,385 shares during the quarter. Rhumbline Advisers’ holdings in Corpay were worth $46,776,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in CPAY. Exchange Traded Concepts LLC bought a new stake in shares of Corpay during the 3rd quarter worth $55,000. Creative Planning grew its stake in Corpay by 26.4% in the third quarter. Creative Planning now owns 6,247 shares of the company’s stock valued at $1,954,000 after acquiring an additional 1,305 shares during the period. Vontobel Holding Ltd. grew its stake in Corpay by 6.4% in the third quarter. Vontobel Holding Ltd. now owns 812 shares of the company’s stock valued at $254,000 after acquiring an additional 49 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Corpay by 38.3% in the third quarter. Bleakley Financial Group LLC now owns 1,061 shares of the company’s stock valued at $332,000 after purchasing an additional 294 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Corpay by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,877 shares of the company’s stock worth $2,464,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CPAY. Wells Fargo & Company boosted their target price on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. 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 note on Friday, December 13th. Barclays upped their price target on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada upped their target price on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Corpay Trading Up 2.4 %

Shares of Corpay stock opened at $377.25 on Tuesday. 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 firm’s 50-day moving average price is $361.83 and its 200 day moving average price is $340.30. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The firm has a market capitalization of $26.30 billion, a PE ratio of 26.98, a P/E/G ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 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, sell-side analysts predict that Corpay, Inc. will post 20.62 EPS for the current fiscal year.

About Corpay

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.