Corpay, Inc. (NYSE:CPAY) Stake Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Corpay, Inc. (NYSE:CPAY) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 402,494 shares of the company’s stock after selling 7,968 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of Corpay worth $136,212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avion Wealth raised its holdings in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after buying an additional 91 shares during the period. Versant Capital Management Inc raised 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 during the period. Spire Wealth Management acquired a new stake in Corpay during the 4th quarter worth about $42,000. Huntington National Bank raised its holdings in Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after buying an additional 40 shares during the period. Finally, Quarry LP acquired a new stake in Corpay during the 3rd quarter worth about $42,000. 98.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the business’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 value of $910,683.21. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.10% of the company’s stock.

Corpay Trading Up 0.7 %

Shares of NYSE CPAY opened at $366.99 on Friday. The stock has a market cap of $25.58 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.32 and a beta of 1.28. The business has a 50 day simple moving average of $365.02 and a 200 day simple moving average of $345.30. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. 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 announced its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 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%. On average, research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPAY has been the topic of several recent analyst reports. Raymond James cut their price objective on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research note on Wednesday, January 8th. Citigroup assumed coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Wells Fargo & Company lifted their target price on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted 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. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

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.