CIBC Private Wealth Group LLC Reduces Stock Position in Corpay, Inc. (NYSE:CPAY)

CIBC Private Wealth Group LLC trimmed its position in Corpay, Inc. (NYSE:CPAY) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 179,371 shares of the company’s stock after selling 4,103 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.26% of Corpay worth $64,111,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPAY. Exchange Traded Concepts LLC raised its position in Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock worth $69,000 after buying an additional 29 shares during the last quarter. Tealwood Asset Management Inc. increased its stake in shares of Corpay by 0.7% in the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock worth $1,420,000 after acquiring an additional 30 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Corpay by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock worth $2,018,000 after purchasing an additional 30 shares during the last quarter. IFP Advisors Inc lifted its position in Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock valued at $390,000 after purchasing an additional 30 shares during the period. Finally, Lake Street Advisors Group LLC boosted its holdings in Corpay by 3.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock valued at $318,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Down 2.4 %

CPAY stock opened at $346.79 on Monday. The stock has a market capitalization of $24.36 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The firm has a 50-day simple moving average of $363.75 and a 200-day simple moving average of $352.17. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last posted its quarterly earnings data 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 return on equity of 41.46% and a net margin of 25.25%. Equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated 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 directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CPAY has been the subject of several analyst reports. Royal Bank of Canada boosted their price objective on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price target on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research note on Wednesday, January 8th. Raymond James decreased their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Finally, Citigroup initiated coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and an average target price 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.