Aviance Capital Partners LLC Reduces Stake in Corpay, Inc. (NYSE:CPAY)

Aviance Capital Partners LLC lessened its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,023 shares of the company’s stock after selling 4,156 shares during the period. Corpay comprises approximately 0.7% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 28th biggest position. Aviance Capital Partners LLC’s holdings in Corpay were worth $5,423,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CPAY. Raymond James Financial Inc. purchased a new position in shares of Corpay during the fourth quarter valued at approximately $134,950,000. JPMorgan Chase & Co. boosted its holdings in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares during the period. Prana Capital Management LP purchased a new stake in shares of Corpay in the third quarter valued at approximately $31,541,000. Proficio Capital Partners LLC purchased a new stake in shares of Corpay in the fourth quarter valued at approximately $28,632,000. Finally, Swedbank AB boosted its holdings in shares of Corpay by 44.9% in the fourth quarter. Swedbank AB now owns 269,717 shares of the company’s stock valued at $91,278,000 after purchasing an additional 83,600 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of CPAY opened at $342.66 on Friday. The firm has a market capitalization of $24.07 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The company’s fifty day moving average price is $365.67 and its 200-day moving average price is $347.08.

Corpay (NYSE:CPAY) last posted 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, equities research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company’s 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 directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CPAY. Keefe, Bruyette & Woods boosted their price target on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Raymond James lowered their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada boosted their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Citigroup began coverage on Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target for the company. Finally, Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

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.