Corpay, Inc. (NYSE:CPAY) is Long Path Partners LP’s 5th Largest Position

Long Path Partners LP lowered its holdings in Corpay, Inc. (NYSE:CPAY) by 38.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,222 shares of the company’s stock after selling 52,750 shares during the quarter. Corpay accounts for 9.1% of Long Path Partners LP’s holdings, making the stock its 5th biggest position. Long Path Partners LP owned approximately 0.12% of Corpay worth $28,164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in shares of Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock worth $69,000 after purchasing an additional 29 shares during the period. Tealwood Asset Management Inc. grew its stake in Corpay by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after acquiring an additional 30 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Corpay by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock valued at $2,018,000 after purchasing an additional 30 shares during the last quarter. IFP Advisors Inc lifted its position in Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock worth $390,000 after buying an additional 30 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in shares of Corpay by 3.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after acquiring an additional 32 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Performance

NYSE:CPAY opened at $359.56 on Thursday. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a fifty day simple moving average of $362.55 and a two-hundred day simple moving average of $352.84. 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 market cap of $25.26 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last released its 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 return on equity of 41.46% and a net margin of 25.25%. As a group, equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now directly owns 12,215 shares in the company, valued at $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 available at this hyperlink. 6.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CPAY has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Raymond James reduced 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. Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Citigroup initiated coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.