Kendall Capital Management Increases Position in Corpay, Inc. (NYSE:CPAY)

Kendall Capital Management lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,361 shares of the company’s stock after buying an additional 575 shares during the period. Kendall Capital Management’s holdings in Corpay were worth $1,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in Corpay during the 4th quarter worth approximately $134,950,000. JPMorgan Chase & Co. lifted its holdings in shares of Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares during the period. Prana Capital Management LP purchased a new position in Corpay in the 3rd quarter valued at $31,541,000. Proficio Capital Partners LLC acquired a new position in Corpay in the 4th quarter valued at $28,632,000. Finally, Swedbank AB increased its stake in Corpay by 44.9% in the 4th quarter. Swedbank AB now owns 269,717 shares of the company’s stock valued at $91,278,000 after buying an additional 83,600 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Down 2.0 %

NYSE:CPAY opened at $335.78 on Friday. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock has a fifty day simple moving average of $365.56 and a 200-day simple moving average of $347.77. The company has a market capitalization of $23.59 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

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 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, equities research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CPAY. Keefe, Bruyette & Woods lifted their target price on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Morgan Stanley increased their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a report on Wednesday, January 8th. Finally, Royal Bank of Canada upped their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Three equities 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $399.71.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company’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 transaction, the director now directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is owned by corporate insiders.

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.