Journey Strategic Wealth LLC Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Journey Strategic Wealth LLC bought a new stake in Corpay, Inc. (NYSE:CPAY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,475 shares of the company’s stock, valued at approximately $499,000.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. BMO Capital Markets upped their price objective on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Bank of America boosted their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Three 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $381.43.

Insider Transactions at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction on 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 transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Corpay Stock Down 1.8 %

Shares of NYSE:CPAY opened at $380.55 on Monday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $391.10. The stock’s 50-day moving average price is $361.47 and its two-hundred day moving average price is $333.36. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm has a market cap of $26.53 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.30 and a beta of 1.26.

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

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.