Bank of New York Mellon Corp Has $136.21 Million Position in Corpay, Inc. (NYSE:CPAY)

Bank of New York Mellon Corp reduced its stake in Corpay, Inc. (NYSE:CPAY) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 402,494 shares of the company’s stock after selling 7,968 shares during the period. Bank of New York Mellon Corp’s holdings in Corpay were worth $136,212,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CPAY. Avion Wealth lifted its holdings in shares of Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after buying an additional 60 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after buying an additional 40 shares during the last quarter. Quarry LP acquired a new position in shares of Corpay during the third quarter worth approximately $42,000. Finally, Spire Wealth Management acquired a new position in shares of Corpay during the fourth quarter worth approximately $42,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Performance

Shares of NYSE:CPAY opened at $366.99 on Friday. The business’s fifty day moving average price is $365.02 and its two-hundred day moving average price is $345.30. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The stock has a market capitalization of $25.58 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. 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 (NYSE:CPAY) last announced its quarterly 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 net margin of 25.25% and a return on equity of 41.46%. As a group, analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Morgan Stanley upped their price target on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a 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 for the company in a research note on Wednesday, January 8th. BMO Capital Markets upped their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Royal Bank of Canada upped their target price on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the stock in a transaction on 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. This 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 accessible through this link. Company insiders own 6.10% of the company’s stock.

About Corpay

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.