Optimize Financial Inc Buys New Shares in Corpay, Inc. (NYSE:CPAY)

Optimize Financial Inc bought a new position in shares of Corpay, Inc. (NYSE:CPAY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,055 shares of the company’s stock, valued at approximately $357,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Corpay in the 3rd quarter valued at $364,000. Tidal Investments LLC grew its position in Corpay by 1.5% during the third quarter. Tidal Investments LLC now owns 4,641 shares of the company’s stock valued at $1,452,000 after acquiring an additional 68 shares during the period. Peapack Gladstone Financial Corp increased its stake in Corpay by 0.3% during the third quarter. Peapack Gladstone Financial Corp now owns 40,416 shares of the company’s stock worth $12,640,000 after acquiring an additional 113 shares during the last quarter. American Trust purchased a new position in shares of Corpay in the 3rd quarter worth about $719,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Corpay by 2.6% in the 3rd quarter. Principal Financial Group Inc. now owns 86,539 shares of the company’s stock valued at $27,066,000 after purchasing an additional 2,175 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

CPAY opened at $304.96 on Friday. 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, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The company has a 50-day moving average of $348.19 and a 200-day moving average of $352.04. The company has a market capitalization of $21.42 billion, a P/E ratio of 21.81, a PEG ratio of 1.32 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on CPAY shares. Citigroup assumed coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on 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 increased their target price on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Raymond James reduced their price target on 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, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $401.54.

Insider Activity

In other Corpay 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 in the company, valued at approximately $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 can be accessed through this link. Corporate 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.