Moran Wealth Management LLC Acquires 647 Shares of Corpay, Inc. (NYSE:CPAY)

Moran Wealth Management LLC grew its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,619 shares of the company’s stock after acquiring an additional 647 shares during the period. Moran Wealth Management LLC’s holdings in Corpay were worth $4,947,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Avion Wealth raised its stake in shares of Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Corpay by 130.4% during the fourth 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. Huntington National Bank increased its position in shares of Corpay by 43.0% during the third 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. Quarry LP acquired a new stake in shares of Corpay during the third quarter worth $42,000. Finally, Spire Wealth Management acquired a new stake in shares of Corpay during the fourth quarter worth $42,000. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Down 3.5 %

Shares of NYSE CPAY opened at $323.80 on Tuesday. The stock has a market capitalization of $22.75 billion, a P/E ratio of 23.16, a P/E/G ratio of 1.32 and a beta of 1.25. The company has a 50-day moving average price of $365.29 and a 200-day moving average price of $348.33. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. 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 issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, equities research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of the firm’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 of the company’s stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several recent analyst reports. Raymond James decreased 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. 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 objective for the company. Wells Fargo & Company increased their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets increased their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Corpay currently has an average rating of “Moderate Buy” and an average price target of $399.71.

About Corpay

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.