Lederer & Associates Investment Counsel CA Decreases Stock Position in Corpay, Inc. (NYSE:CPAY)

Lederer & Associates Investment Counsel CA lessened its stake in Corpay, Inc. (NYSE:CPAY) by 27.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,701 shares of the company’s stock after selling 1,022 shares during the quarter. Lederer & Associates Investment Counsel CA’s holdings in Corpay were worth $914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in shares of Corpay by 16.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $69,000 after purchasing an additional 29 shares in the last quarter. Tealwood Asset Management Inc. lifted its stake in Corpay by 0.7% during the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock worth $1,420,000 after purchasing an additional 30 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Corpay by 22.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after purchasing an additional 34 shares during the last quarter. Mather Group LLC. lifted its stake in Corpay by 21.2% during the third quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after purchasing an additional 35 shares during the last quarter. Finally, Custom Index Systems LLC lifted its stake in Corpay by 2.9% during the fourth quarter. Custom Index Systems LLC now owns 1,367 shares of the company’s stock worth $463,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CPAY. Wolfe Research upgraded 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. Barclays raised their price objective on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Jefferies Financial Group raised their price objective on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their target price on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company raised 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. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $381.43.

Corpay Price Performance

NYSE:CPAY opened at $380.55 on Monday. The business’s 50-day moving average price is $361.47 and its 200 day moving average price is $333.61. The firm 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 1.28. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $391.10. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

Corpay (NYSE:CPAY) last released its earnings results on Thursday, November 7th. The company reported $4.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.05. The firm had revenue of $1.03 billion for 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 previous year, the company earned $4.20 earnings per share. As a group, sell-side analysts predict that Corpay, Inc. will post 17.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the sale, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This 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 currently owned by company 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.