Corpay, Inc. (NYSE:CPAY) Shares Sold by Cypress Capital Group

Cypress Capital Group trimmed its position in Corpay, Inc. (NYSE:CPAY) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,403 shares of the company’s stock after selling 372 shares during the quarter. Cypress Capital Group’s holdings in Corpay were worth $475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB raised its holdings in shares of Corpay by 46.3% in the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after purchasing an additional 58,900 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Corpay by 66.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after buying an additional 2,355 shares during the last quarter. Retireful LLC purchased a new position in shares of Corpay in the 3rd quarter valued at $702,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Corpay in the 3rd quarter valued at $527,000. Finally, Banco Santander S.A. purchased a new position in shares of Corpay in the 3rd quarter valued at $668,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Up 2.2 %

Shares of NYSE CPAY opened at $356.91 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The firm has a 50-day moving average price of $365.73 and a 200 day moving average price of $347.11. The stock has a market capitalization of $25.07 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. 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. Morgan Stanley raised their price objective on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Raymond James lowered 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Corpay has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were 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 owns 12,215 shares in the company, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.10% of the company’s stock.

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.