King Luther Capital Management Corp Trims Stock Position in Corpay, Inc. (NYSE:CPAY)

King Luther Capital Management Corp reduced its stake in Corpay, Inc. (NYSE:CPAY) by 40.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,530 shares of the company’s stock after selling 5,199 shares during the quarter. King Luther Capital Management Corp’s holdings in Corpay were worth $2,548,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vista Investment Partners II LLC purchased a new stake in shares of Corpay in the fourth quarter valued at about $891,000. Daiwa Securities Group Inc. lifted its position in Corpay by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,984 shares of the company’s stock valued at $3,040,000 after purchasing an additional 641 shares during the period. Moran Wealth Management LLC lifted its position in Corpay by 4.6% in the fourth quarter. Moran Wealth Management LLC now owns 14,619 shares of the company’s stock valued at $4,947,000 after purchasing an additional 647 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Corpay by 12.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,260 shares of the company’s stock valued at $4,826,000 after purchasing an additional 1,591 shares in the last quarter. Finally, Taika Capital LP acquired a new position in Corpay during the 4th quarter worth approximately $347,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Buying and Selling at Corpay

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Royal Bank of Canada lifted their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. BMO Capital Markets boosted their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Keefe, Bruyette & Woods upped their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company raised 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. Finally, Citigroup initiated coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective on the stock. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $399.71.

Corpay Price Performance

CPAY stock opened at $334.40 on Thursday. The stock’s 50 day moving average price is $364.94 and its 200 day moving average price is $348.42. The firm has a market cap of $23.49 billion, a P/E ratio of 23.92, a PEG ratio of 1.32 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (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, sell-side analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.