HighTower Advisors LLC Lowers Stake in Corpay, Inc. (NYSE:CPAY)

HighTower Advisors LLC cut its stake in Corpay, Inc. (NYSE:CPAY) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,771 shares of the company’s stock after selling 3,212 shares during the quarter. HighTower Advisors LLC’s holdings in Corpay were worth $6,691,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CPAY. Avion Wealth raised its holdings in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Corpay by 130.4% in the 4th 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 last quarter. Huntington National Bank raised its stake in shares of Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after acquiring an additional 40 shares in the last quarter. Quarry LP purchased a new stake in Corpay during the third quarter valued at approximately $42,000. Finally, Spire Wealth Management acquired a new stake in Corpay in the fourth quarter valued at approximately $42,000. 98.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. BMO Capital Markets increased their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Keefe, Bruyette & Woods boosted their price target on 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 company a “sector perform” rating in a research report on Thursday, February 6th. Finally, Raymond James dropped their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares in the company, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.10% of the company’s stock.

Corpay Stock Performance

Shares of CPAY stock opened at $347.57 on Wednesday. The stock has a market cap of $24.42 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The business has a 50-day simple moving average of $364.75 and a 200-day simple moving average of $349.66. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last announced its quarterly earnings results 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 analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Corpay Company 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.