Corpay, Inc. (NYSE:CPAY) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC boosted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 109.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,307 shares of the company’s stock after buying an additional 4,345 shares during the period. Ieq Capital LLC’s holdings in Corpay were worth $2,811,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Avion Wealth raised its holdings in shares of Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Versant Capital Management Inc increased its position in 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 purchasing an additional 60 shares during the last quarter. Spire Wealth Management purchased a new position in Corpay during the fourth quarter worth about $42,000. Huntington National Bank raised its stake in Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after purchasing an additional 40 shares during the period. Finally, Quarry LP acquired a new position in Corpay in the 3rd quarter valued at about $42,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.10% of the stock is currently owned by company insiders.

Corpay Trading Down 1.4 %

NYSE CPAY opened at $363.66 on Friday. 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 firm has a market cap of $25.35 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.32 and a beta of 1.28. The firm has a 50 day simple moving average of $362.96 and a 200-day simple moving average of $342.71. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81.

Corpay (NYSE:CPAY) last issued its quarterly earnings results 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%. Equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPAY. Raymond James reduced their price target 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. Royal Bank of Canada lifted their target price on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price target on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Citigroup started coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. Finally, Barclays upped their target price on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Three investment 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

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.