Proficio Capital Partners LLC Purchases Shares of 84,605 Corpay, Inc. (NYSE:CPAY)

Proficio Capital Partners LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 84,605 shares of the company’s stock, valued at approximately $28,632,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Swedbank AB increased its holdings in shares of Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after purchasing an additional 58,900 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after purchasing an additional 2,355 shares during the last quarter. Retireful LLC bought a new stake in shares of Corpay in the third quarter worth about $702,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Corpay in the third quarter worth about $527,000. Finally, Banco Santander S.A. bought a new stake in shares of Corpay in the third quarter worth about $668,000. 98.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price target on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Raymond James dropped their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price target on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Wolfe Research upgraded 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. Finally, Citigroup assumed coverage on Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target for the company. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $399.71.

Corpay Stock Up 0.7 %

Shares of NYSE CPAY opened at $366.99 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 capitalization of $25.58 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.32 and a beta of 1.28. The stock has a 50 day moving average price of $365.02 and a 200 day moving average price of $345.30. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. Sell-side analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 12,215 shares of the company’s stock, valued at $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 is available at the SEC website. 6.10% of the stock is currently owned by insiders.

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.