Sequoia Financial Advisors LLC Purchases 134 Shares of Corpay, Inc. (NYSE:CPAY)

Sequoia Financial Advisors LLC boosted its position in shares of Corpay, Inc. (NYSE:CPAY) by 9.6% in the fourth quarter, HoldingsChannel reports. The fund owned 1,524 shares of the company’s stock after purchasing an additional 134 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Corpay were worth $516,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares in the last quarter. FMR LLC raised its stake in Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after buying an additional 78,880 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Corpay by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after acquiring an additional 23,275 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Corpay by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company’s stock worth $160,904,000 after acquiring an additional 16,981 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Corpay during the fourth quarter valued at about $134,950,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Up 3.1 %

Shares of CPAY stock opened at $348.20 on Tuesday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The stock has a market cap of $24.46 billion, a P/E ratio of 24.91, a P/E/G ratio of 1.32 and a beta of 1.25. The stock has a 50 day moving average of $364.75 and a 200 day moving average of $349.44. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last posted its 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%. As a group, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Insiders Place Their Bets

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. Insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Royal Bank of Canada lifted 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. Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley raised their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted 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. Three 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.