Corpay, Inc. (NYSE:CPAY) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its position in shares of Corpay, Inc. (NYSE:CPAY) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,611 shares of the company’s stock after selling 181 shares during the period. First Citizens Bank & Trust Co.’s holdings in Corpay were worth $545,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Public Sector Pension Investment Board boosted its position in shares of Corpay by 85.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 2,991 shares of the company’s stock valued at $797,000 after purchasing an additional 1,379 shares during the period. MBB Public Markets I LLC purchased a new stake in shares of Corpay during the 2nd quarter worth about $1,391,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Corpay by 16.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,027 shares of the company’s stock worth $274,000 after purchasing an additional 148 shares in the last quarter. Wallace Advisory Group LLC purchased a new stake in shares of Corpay during the 2nd quarter worth about $288,000. Finally, Seaport Global Advisors LLC raised its stake in shares of Corpay by 6.9% during the 2nd quarter. Seaport Global Advisors LLC now owns 2,470 shares of the company’s stock worth $658,000 after purchasing an additional 160 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the transaction, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Corpay Price Performance

Shares of NYSE:CPAY opened at $379.91 on Tuesday. The business’s 50 day moving average is $360.45 and its 200-day moving average is $330.37. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $26.48 billion, a PE ratio of 27.10, a PEG ratio of 1.26 and a beta of 1.26. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30.

Corpay (NYSE:CPAY) last released its earnings results on Thursday, November 7th. The company reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.05. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Corpay had a return on equity of 39.44% and a net margin of 26.14%. During the same quarter in the previous year, the company posted $4.20 earnings per share. Sell-side analysts predict that Corpay, Inc. will post 17.84 earnings per share for the current year.

Analysts Set New Price Targets

CPAY has been the subject of a number of recent research reports. Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Wells Fargo & Company raised their price objective on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Barclays lifted their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Bank of America lifted their price target on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods dropped their price target on Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. 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. According to MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $381.43.

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.