Aurora Investment Counsel Trims Stake in Corpay, Inc. (NYSE:CPAY)

Aurora Investment Counsel cut its position in shares of Corpay, Inc. (NYSE:CPAY) by 14.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,644 shares of the company’s stock after selling 1,294 shares during the quarter. Corpay comprises approximately 1.4% of Aurora Investment Counsel’s investment portfolio, making the stock its 15th biggest position. Aurora Investment Counsel’s holdings in Corpay were worth $2,587,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in shares of Corpay by 4.0% in the third quarter. Janney Montgomery Scott LLC now owns 2,863 shares of the company’s stock valued at $895,000 after purchasing an additional 111 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Corpay by 4.3% during the third quarter. Apollon Wealth Management LLC now owns 1,385 shares of the company’s stock valued at $433,000 after buying an additional 57 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Corpay by 0.9% in the third quarter. Victory Capital Management Inc. now owns 154,698 shares of the company’s stock valued at $48,383,000 after acquiring an additional 1,339 shares in the last quarter. Pinnacle Financial Partners Inc lifted its stake in Corpay by 0.8% in the third quarter. Pinnacle Financial Partners Inc now owns 27,963 shares of the company’s stock worth $8,746,000 after acquiring an additional 214 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after purchasing an additional 2,355 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction 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 sale, the director now owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective 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. BMO Capital Markets increased their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Keefe, Bruyette & Woods upped their price objective on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Raymond James decreased their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup began coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Three investment 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $399.71.

Corpay Trading Down 1.7 %

Shares of NYSE:CPAY opened at $328.18 on Friday. The company has a market capitalization of $23.05 billion, a PE ratio of 23.47, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The business has a 50 day moving average of $364.71 and a two-hundred day moving average of $348.28. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, analysts forecast 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.