Synergy Asset Management LLC Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Synergy Asset Management LLC acquired a new stake in Corpay, Inc. (NYSE:CPAY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 138 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Corpay in the third quarter valued at about $40,497,000. JPMorgan Chase & Co. raised its holdings in shares of Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after buying an additional 120,578 shares during the period. Prana Capital Management LP acquired a new position in Corpay during the 3rd quarter worth approximately $31,541,000. Swedbank AB boosted its holdings in Corpay by 44.9% in the 4th quarter. Swedbank AB now owns 269,717 shares of the company’s stock worth $91,278,000 after acquiring an additional 83,600 shares during the period. Finally, FMR LLC grew its position in Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after acquiring an additional 78,880 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Down 1.8 %

Corpay stock opened at $380.55 on Friday. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $391.10. The firm’s 50-day moving average is $361.45 and its 200-day moving average is $332.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $26.53 billion, a P/E ratio of 27.14, a PEG ratio of 1.30 and a beta of 1.26.

Corpay (NYSE:CPAY) last posted its earnings results on Thursday, November 7th. The company reported $4.72 EPS for the quarter, beating the consensus estimate of $4.67 by $0.05. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Corpay had a return on equity of 39.44% and a net margin of 26.14%. During the same period in the prior year, the company earned $4.20 earnings per share. On average, equities analysts expect that Corpay, Inc. will post 17.84 earnings per share for the current year.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. BMO Capital Markets upped 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. 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 report on Wednesday, January 8th. Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Bank of America lifted their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $381.43.

Insiders Place Their Bets

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the transaction, the director now owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

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.