Corpay, Inc. (NYSE:CPAY) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its stake in shares of Corpay, Inc. (NYSE:CPAY) by 6.4% in the fourth quarter, Holdings Channel reports. The fund owned 3,402 shares of the company’s stock after selling 234 shares during the period. Orion Portfolio Solutions LLC’s holdings in Corpay were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Corpay during the fourth quarter worth approximately $241,739,000. Raymond James Financial Inc. purchased a new position in Corpay in the 4th quarter valued at $134,950,000. Boston Partners increased its stake in Corpay by 6.4% in the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock valued at $694,847,000 after buying an additional 122,380 shares during the period. Vanguard Group Inc. raised its position in Corpay by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock worth $2,623,702,000 after buying an additional 120,688 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after acquiring an additional 120,578 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.10% of the company’s stock.

Corpay Stock Performance

Corpay stock opened at $287.80 on Friday. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The company has a market capitalization of $20.22 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.32 and a beta of 1.11. The stock has a fifty day moving average of $359.52 and a two-hundred day moving average of $352.45. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

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, analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CPAY. Royal Bank of Canada increased their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. BMO Capital Markets raised their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Morgan Stanley upped their price objective 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 raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research note on Wednesday, January 8th. Finally, Raymond James reduced their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $401.54.

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.