Rhumbline Advisers Lowers Stock Position in Corpay, Inc. (NYSE:CPAY)

Rhumbline Advisers decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,220 shares of the company’s stock after selling 2,385 shares during the period. Rhumbline Advisers owned 0.20% of Corpay worth $46,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CPAY. Avion Wealth increased its stake in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Corpay by 17.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock valued at $8,067,000 after buying an additional 3,504 shares during the period. Compound Global Advisors LLC purchased a new position in Corpay during the fourth quarter valued at $774,000. 17 Capital Partners LLC lifted its holdings in Corpay by 21.5% during the fourth quarter. 17 Capital Partners LLC now owns 2,652 shares of the company’s stock valued at $897,000 after purchasing an additional 470 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Corpay by 453.9% during the fourth quarter. Empowered Funds LLC now owns 6,259 shares of the company’s stock valued at $2,118,000 after purchasing an additional 5,129 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Citigroup began coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. BMO Capital Markets upped their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Keefe, Bruyette & Woods upped their target price 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. Finally, Raymond James dropped their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Three investment 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 company. According to MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Insider Activity

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. This represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Corpay Trading Up 2.4 %

CPAY opened at $377.25 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The firm’s 50 day moving average is $361.83 and its 200-day moving average is $340.30. The firm has a market capitalization of $26.30 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.33 and a beta of 1.28. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81.

Corpay (NYSE:CPAY) last released 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 net margin of 25.25% and a return on equity of 41.46%. Analysts expect that Corpay, Inc. will post 20.62 EPS for the current fiscal year.

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.