Corpay, Inc. (NYSE:CPAY) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in shares of Corpay, Inc. (NYSE:CPAY) by 5.1% during the fourth quarter, Holdings Channel reports. The fund owned 38,715 shares of the company’s stock after selling 2,100 shares during the period. New York State Common Retirement Fund’s holdings in Corpay were worth $13,102,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Creative Planning grew its stake in shares of Corpay by 26.4% during the third quarter. Creative Planning now owns 6,247 shares of the company’s stock worth $1,954,000 after purchasing an additional 1,305 shares in the last quarter. Blue Trust Inc. lifted its stake in Corpay by 299.3% during the third quarter. Blue Trust Inc. now owns 539 shares of the company’s stock worth $169,000 after purchasing an additional 404 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Corpay by 15.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 20,228 shares of the company’s stock valued at $6,327,000 after purchasing an additional 2,751 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Corpay by 5.3% in the third quarter. Sequoia Financial Advisors LLC now owns 1,390 shares of the company’s stock valued at $435,000 after purchasing an additional 70 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Corpay by 22.3% during the third quarter. Signaturefd LLC now owns 252 shares of the company’s stock worth $79,000 after purchasing an additional 46 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Trading Down 1.4 %

Shares of CPAY stock opened at $363.66 on Monday. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The business’s fifty day moving average price is $362.96 and its 200 day moving average price is $343.22. The firm has a market capitalization of $25.35 billion, a PE ratio of 26.01, a P/E/G ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last issued 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 41.46% and a net margin of 25.25%. As a group, sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard Macchia sold 2,427 shares of Corpay 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 transaction, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CPAY shares. Wells Fargo & Company upped their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Raymond James decreased their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Citigroup initiated coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

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.