Lake Street Advisors Group LLC Buys 32 Shares of Corpay, Inc. (NYSE:CPAY)

Lake Street Advisors Group LLC increased its stake in Corpay, Inc. (NYSE:CPAY) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 939 shares of the company’s stock after purchasing an additional 32 shares during the period. Lake Street Advisors Group LLC’s holdings in Corpay were worth $318,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CPAY. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Corpay by 36.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,580 shares of the company’s stock worth $1,425,000 after purchasing an additional 1,225 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Corpay by 43.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,934 shares of the company’s stock worth $918,000 after purchasing an additional 888 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Corpay by 7.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,355 shares of the company’s stock worth $737,000 after purchasing an additional 160 shares during the period. abrdn plc increased its position in shares of Corpay by 49.0% in the third quarter. abrdn plc now owns 22,843 shares of the company’s stock worth $7,117,000 after purchasing an additional 7,507 shares during the period. Finally, New York State Teachers Retirement System grew its position in Corpay by 0.7% in the third quarter. New York State Teachers Retirement System now owns 71,507 shares of the company’s stock valued at $22,365,000 after acquiring an additional 462 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE:CPAY opened at $366.99 on Friday. The stock’s 50-day moving average is $365.02 and its 200-day moving average is $345.30. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock has a market cap of $25.58 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 EPS 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 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CPAY. BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Keefe, Bruyette & Woods lifted their target price on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley lifted their target price on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred 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 transaction, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is owned by insiders.

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.