Corpay, Inc. (NYSE:CPAY) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,488 shares of the company’s stock after selling 152 shares during the period. Townsquare Capital LLC’s holdings in Corpay were worth $1,519,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. lifted its stake in Corpay by 163.7% during the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock worth $570,801,000 after purchasing an additional 1,047,080 shares during the last quarter. Norges Bank acquired a new stake in Corpay during the fourth quarter worth approximately $241,739,000. Raymond James Financial Inc. purchased a new stake in shares of Corpay during the 4th quarter worth approximately $134,950,000. Neuberger Berman Group LLC grew its position in shares of Corpay by 8,620.5% in the 4th quarter. Neuberger Berman Group LLC now owns 140,400 shares of the company’s stock valued at $47,514,000 after buying an additional 138,790 shares during the last quarter. Finally, Boston Partners raised its stake in Corpay by 6.4% during the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock worth $694,847,000 after acquiring an additional 122,380 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company raised their price objective on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Raymond James cut their price target 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 boosted their price objective on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods lifted their target price on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada increased their price target 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. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus price target of $400.38.

Insider Activity at Corpay

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 sale, the director now directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.10% of the company’s stock.

Corpay Stock Performance

NYSE:CPAY opened at $306.56 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The firm has a market cap of $21.54 billion, a PE ratio of 21.93, a P/E/G ratio of 1.32 and a beta of 1.11. The firm has a 50 day simple moving average of $343.68 and a 200-day simple moving average of $351.75. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81.

Corpay (NYSE:CPAY) last issued its quarterly 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%. On average, equities analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Corpay Company 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.