Gallacher Capital Management LLC Purchases 323 Shares of Corpay, Inc. (NYSE:CPAY)

Gallacher Capital Management LLC boosted its position in Corpay, Inc. (NYSE:CPAY) by 43.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,061 shares of the company’s stock after acquiring an additional 323 shares during the period. Gallacher Capital Management LLC’s holdings in Corpay were worth $359,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Corpay by 2.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,768 shares of the company’s stock valued at $1,614,000 after purchasing an additional 110 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Corpay by 12.2% in the fourth quarter. Natixis Advisors LLC now owns 30,815 shares of the company’s stock valued at $10,428,000 after purchasing an additional 3,362 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in shares of Corpay by 77.3% in the fourth quarter. Intact Investment Management Inc. now owns 3,900 shares of the company’s stock valued at $1,320,000 after purchasing an additional 1,700 shares in the last quarter. Aviso Financial Inc. bought a new position in shares of Corpay in the fourth quarter valued at approximately $151,000. Finally, Achmea Investment Management B.V. lifted its holdings in shares of Corpay by 6.0% in the fourth quarter. Achmea Investment Management B.V. now owns 5,370 shares of the company’s stock valued at $1,817,000 after purchasing an additional 302 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CPAY shares. Raymond James dropped their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada increased their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods increased their price target on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley increased their price target on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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 on Monday, February 10th. The stock was 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 owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The transaction 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.

Corpay Price Performance

Shares of NYSE CPAY opened at $338.14 on Monday. The stock has a market cap of $23.75 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The stock has a fifty day moving average of $364.64 and a 200-day moving average of $349.17.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. Equities research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.