Commerce Bank Lowers Stake in Corpay, Inc. (NYSE:CPAY)

Commerce Bank decreased its position in Corpay, Inc. (NYSE:CPAY) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,586 shares of the company’s stock after selling 2,095 shares during the quarter. Commerce Bank’s holdings in Corpay were worth $9,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avion Wealth increased its stake in Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc lifted its holdings in Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after buying an additional 60 shares in the last quarter. Spire Wealth Management purchased a new position in Corpay in the 4th quarter valued at approximately $42,000. Assetmark Inc. grew its stake in shares of Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after acquiring an additional 60 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of Corpay during the fourth quarter worth $43,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the sale, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.10% of the stock is owned by company insiders.

Corpay Stock Up 0.5 %

Corpay stock opened at $308.39 on Friday. The company has a market capitalization of $21.66 billion, a P/E ratio of 22.06, a PEG ratio of 1.32 and a beta of 1.11. 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 fifty-two week low of $247.10 and a fifty-two week high of $400.81. The stock has a 50-day simple moving average of $341.13 and a 200-day simple moving average of $351.92.

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

Wall Street Analyst Weigh In

CPAY has been the subject of a number of recent research reports. Citigroup began coverage on Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. Barclays lowered their price objective on Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Wells Fargo & Company raised their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Raymond James lowered their price target 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. Finally, Wolfe Research raised shares of 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. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $400.38.

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.