Corpay, Inc. (NYSE:CPAY) Short Interest Up 31.6% in February

Corpay, Inc. (NYSE:CPAY) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,040,000 shares, an increase of 31.6% from the February 13th total of 1,550,000 shares. Currently, 3.0% of the shares of the company are short sold. Based on an average daily trading volume, of 474,100 shares, the short-interest ratio is currently 4.3 days.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the sale, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corpay

Institutional investors have recently made changes to their positions in the company. Swedbank AB lifted its holdings in shares of Corpay by 46.3% in the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after acquiring an additional 58,900 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Corpay by 66.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after acquiring an additional 2,355 shares during the last quarter. Retireful LLC bought a new stake in shares of Corpay in the 3rd quarter worth about $702,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Corpay in the 3rd quarter worth about $527,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Corpay by 17.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after buying an additional 3,504 shares during the period. Institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

CPAY has been the subject of a number of analyst reports. 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 note on Thursday, January 16th. Citigroup initiated coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. 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 note on Thursday, February 6th. Royal Bank of Canada increased their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Finally, Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Corpay Price Performance

CPAY stock opened at $338.14 on Monday. Corpay has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The company has a fifty day simple moving average of $364.64 and a two-hundred day simple moving average of $349.17. The firm has a market capitalization of $23.75 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last released 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 net margin of 25.25% and a return on equity of 41.46%. Analysts anticipate that Corpay will post 19.76 earnings per share for the current fiscal 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.