Empirical Finance LLC Trims Stock Position in Corpay, Inc. (NYSE:CPAY)

Empirical Finance LLC trimmed its holdings in Corpay, Inc. (NYSE:CPAY) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,466 shares of the company’s stock after selling 27 shares during the quarter. Empirical Finance LLC’s holdings in Corpay were worth $835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPAY. Empowered Funds LLC boosted its stake in shares of Corpay by 453.9% in the fourth quarter. Empowered Funds LLC now owns 6,259 shares of the company’s stock worth $2,118,000 after buying an additional 5,129 shares during the last quarter. Hendershot Investments Inc. boosted its position in Corpay by 2.0% in the 4th quarter. Hendershot Investments Inc. now owns 32,873 shares of the company’s stock worth $11,125,000 after purchasing an additional 633 shares in the last quarter. William Allan Corp acquired a new stake in shares of Corpay during the 4th quarter worth approximately $402,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Corpay by 2.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,065 shares of the company’s stock valued at $2,729,000 after purchasing an additional 188 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Corpay by 7.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 160,441 shares of the company’s stock valued at $54,296,000 after purchasing an additional 10,579 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPAY has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Barclays raised their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Royal Bank of Canada boosted their price objective on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Finally, Citigroup assumed coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Insider Buying and Selling at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the sale, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,402 shares of company stock worth $4,987,164 in the last three months. 6.10% of the stock is owned by corporate insiders.

Corpay Stock Performance

NYSE:CPAY opened at $375.06 on Tuesday. The company has a market cap of $26.15 billion, a P/E ratio of 26.83, a P/E/G ratio of 1.33 and a beta of 1.28. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The company’s 50-day moving average price is $361.61 and its 200-day moving average price is $336.86. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last released 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%. On average, sell-side analysts forecast that Corpay, Inc. will post 20.62 earnings per share 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.