Corpay, Inc. (NYSE:CPAY) Stake Lessened by Nicholas Company Inc.

Nicholas Company Inc. cut its stake in Corpay, Inc. (NYSE:CPAY) by 0.1% in the 4th quarter, HoldingsChannel reports. The fund owned 70,955 shares of the company’s stock after selling 65 shares during the period. Nicholas Company Inc.’s holdings in Corpay were worth $24,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Gallacher Capital Management LLC boosted its holdings in shares of Corpay by 43.8% in the fourth quarter. Gallacher Capital Management LLC now owns 1,061 shares of the company’s stock valued at $359,000 after acquiring an additional 323 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Corpay by 2.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,768 shares of the company’s stock worth $1,614,000 after buying an additional 110 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Corpay by 12.2% during the fourth quarter. Natixis Advisors LLC now owns 30,815 shares of the company’s stock worth $10,428,000 after buying an additional 3,362 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in Corpay by 77.3% during the fourth quarter. Intact Investment Management Inc. now owns 3,900 shares of the company’s stock worth $1,320,000 after buying an additional 1,700 shares in the last quarter. Finally, Aviso Financial Inc. bought a new stake in Corpay during the fourth quarter worth approximately $151,000. 98.84% of the stock is currently owned by institutional investors.

Insider Transactions at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CPAY has been the subject of a number of research reports. Citigroup initiated coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Raymond James reduced their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Morgan Stanley raised their target price on shares of 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 shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. 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’s stock. According to data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Up 3.0 %

CPAY stock opened at $338.14 on Friday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month 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 company has a market cap of $23.75 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.32 and a beta of 1.25. The company has a 50 day moving average of $364.64 and a two-hundred day moving average of $348.86.

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 return on equity of 41.46% and a net margin of 25.25%. On average, equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.