Mainstream Capital Management LLC Takes Position in Corpay, Inc. (NYSE:CPAY)

Mainstream Capital Management LLC acquired a new stake in Corpay, Inc. (NYSE:CPAY) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 360 shares of the company’s stock, valued at approximately $122,000.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Corpay by 43.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,934 shares of the company’s stock worth $918,000 after purchasing an additional 888 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Corpay by 7.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,355 shares of the company’s stock worth $737,000 after purchasing an additional 160 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Corpay by 22.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,062 shares of the company’s stock worth $332,000 after purchasing an additional 198 shares in the last quarter. US Bancorp DE increased its position in shares of Corpay by 5.0% during the 3rd quarter. US Bancorp DE now owns 3,091 shares of the company’s stock worth $967,000 after purchasing an additional 148 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Corpay by 4.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,863 shares of the company’s stock worth $895,000 after purchasing an additional 111 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CPAY. Citigroup assumed coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Wells Fargo & Company raised their price objective on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Raymond James lowered their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. BMO Capital Markets raised their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $399.71.

Insider Buying and Selling

In other news, Director Richard Macchia sold 2,427 shares of the company’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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is owned by insiders.

Corpay Stock Down 0.5 %

Corpay stock opened at $365.32 on Tuesday. The company’s 50 day simple moving average is $365.46 and its 200 day simple moving average is $346.65. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a market capitalization of $25.47 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.32 and a beta of 1.28. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, sell-side analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current 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.