Cumberland Partners Ltd Takes $677,000 Position in Corpay, Inc. (NYSE:CPAY)

Cumberland Partners Ltd acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,000 shares of the company’s stock, valued at approximately $677,000.

A number of other hedge funds have also added to or reduced their stakes in CPAY. Exchange Traded Concepts LLC grew its stake in Corpay by 16.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock worth $69,000 after purchasing an additional 29 shares during the period. Tealwood Asset Management Inc. grew its position in shares of Corpay by 0.7% in the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock worth $1,420,000 after buying an additional 30 shares during the period. Y.D. More Investments Ltd grew its position in shares of Corpay by 7.7% in the 4th quarter. Y.D. More Investments Ltd now owns 461 shares of the company’s stock worth $156,000 after buying an additional 33 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Corpay by 22.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after buying an additional 34 shares during the period. Finally, Custom Index Systems LLC grew its holdings in Corpay by 2.9% in the fourth quarter. Custom Index Systems LLC now owns 1,367 shares of the company’s stock worth $463,000 after purchasing an additional 38 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the sale, the director now directly owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.10% of the stock is currently owned by insiders.

Corpay Stock Performance

CPAY stock opened at $368.47 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. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The company has a market cap of $25.69 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 1.38 and a beta of 1.28. The stock’s fifty day moving average price is $362.83 and its 200-day moving average price is $341.54.

Corpay (NYSE:CPAY) last announced its earnings results 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 return on equity of 41.46% and a net margin of 25.25%. On average, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup assumed coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. Morgan Stanley upped their price target on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Wells Fargo & Company increased their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. BMO Capital Markets increased their target price on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Corpay Company 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.