Peapack Gladstone Financial Corp Has $13.69 Million Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Peapack Gladstone Financial Corp increased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,460 shares of the company’s stock after acquiring an additional 44 shares during the period. Peapack Gladstone Financial Corp owned about 0.06% of Corpay worth $13,692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CPAY. Avion Wealth grew its stake in shares of Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc boosted its stake in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares in the last quarter. Quarry LP bought a new stake in Corpay in the third quarter valued at $42,000. Spire Wealth Management acquired a new position in Corpay during the fourth quarter worth $42,000. Finally, Assetmark Inc. lifted its holdings in shares of Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock valued at $42,000 after acquiring an additional 60 shares during the period. Institutional investors own 98.84% of the company’s stock.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the sale, the director now owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CPAY. Royal Bank of Canada upped their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Raymond James dropped their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company boosted their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Finally, Morgan Stanley boosted their price objective on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $401.54.

Corpay Price Performance

Shares of CPAY stock opened at $287.80 on Monday. The firm’s 50 day moving average price is $359.52 and its two-hundred day moving average price is $353.09. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The stock has a market cap of $20.22 billion, a PE ratio of 20.59, a PEG ratio of 1.32 and a beta of 1.11.

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

About Corpay

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.