Corpay, Inc. (NYSE:CPAY) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in Corpay, Inc. (NYSE:CPAY) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,821 shares of the company’s stock after selling 97 shares during the quarter. Amalgamated Bank’s holdings in Corpay were worth $5,016,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares during the period. Prana Capital Management LP acquired a new position in Corpay in the 3rd quarter valued at about $31,541,000. Swedbank AB grew its stake in shares of 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. FMR LLC increased its holdings in shares of Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after buying an additional 78,880 shares during the last quarter. Finally, Philosophy Capital Management LLC purchased a new stake in shares of Corpay during the 3rd quarter valued at approximately $15,939,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Transactions at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now owns 12,215 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Corpay Stock Performance

Shares of CPAY stock opened at $364.17 on Friday. The firm has a 50 day moving average of $364.55 and a two-hundred day moving average of $344.69. The stock has a market capitalization of $25.39 billion, a PE ratio of 26.05, a P/E/G ratio of 1.32 and a beta of 1.28. 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.

Corpay (NYSE:CPAY) last released 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 net margin of 25.25% and a return on equity of 41.46%. On average, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. BMO Capital Markets increased their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research report on Wednesday, January 8th. Morgan Stanley upped their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Three equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

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.