Corpay, Inc. (NYSE:CPAY) Position Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Corpay, Inc. (NYSE:CPAY) by 19.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,256,488 shares of the company’s stock after selling 1,030,823 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.06% of Corpay worth $1,440,481,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avion Wealth raised its stake in Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Versant Capital Management Inc grew its holdings in shares of Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of Corpay during the 4th quarter worth approximately $42,000. Assetmark Inc. lifted its holdings in shares of Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Corpay by 70.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company’s stock worth $45,000 after purchasing an additional 55 shares during the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Performance

Shares of CPAY opened at $355.94 on Friday. 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 firm’s 50 day moving average is $364.23 and its 200-day moving average is $351.29. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The stock has a market capitalization of $25.00 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. Equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CPAY. Citigroup assumed coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Raymond James decreased their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada raised 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. BMO Capital Markets upped their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Morgan Stanley increased their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Three equities 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.com, Corpay currently has an average rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred 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 transaction, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.10% of the company’s stock.

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.