Sequoia Financial Advisors LLC Boosts Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Sequoia Financial Advisors LLC boosted its stake in Corpay, Inc. (NYSE:CPAY) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,524 shares of the company’s stock after purchasing an additional 134 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Corpay were worth $516,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Swedbank AB increased its position in Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after purchasing an additional 58,900 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Corpay by 66.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after buying an additional 2,355 shares during the last quarter. Retireful LLC purchased a new stake in shares of Corpay during the 3rd quarter valued at about $702,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Corpay in the 3rd quarter valued at about $527,000. Finally, Allspring Global Investments Holdings LLC grew its position in Corpay by 17.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after acquiring an additional 3,504 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 3.1 %

Shares of NYSE:CPAY opened at $348.20 on Tuesday. The business’s 50 day moving average is $364.75 and its 200 day moving average is $349.44. The stock has a market cap of $24.46 billion, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. 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 posted 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%. Sell-side analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPAY. Keefe, Bruyette & Woods upped their price objective on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research report on Wednesday, January 8th. Citigroup started coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective on the stock. Morgan Stanley raised their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Raymond James cut their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insiders Place Their Bets

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

Corpay Company 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.