Huntington National Bank Acquires 126 Shares of Corpay, Inc. (NYSE:CPAY)

Huntington National Bank increased its holdings in Corpay, Inc. (NYSE:CPAY) by 94.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259 shares of the company’s stock after purchasing an additional 126 shares during the period. Huntington National Bank’s holdings in Corpay were worth $88,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPAY. Vanguard Group Inc. raised its holdings in shares of Corpay by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock worth $2,623,702,000 after buying an additional 120,688 shares in the last quarter. JPMorgan Chase & Co. grew its position in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after acquiring an additional 120,578 shares during the period. Boston Partners raised its stake in Corpay by 6.4% during the fourth 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. Geode Capital Management LLC lifted its holdings in shares of Corpay by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company’s stock valued at $584,962,000 after acquiring an additional 54,894 shares during the period. Finally, Norges Bank acquired a new stake in shares of Corpay in the 4th quarter valued at $241,739,000. Institutional investors own 98.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Morgan Stanley lifted their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. BMO Capital Markets raised their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Raymond James reduced their price objective on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research note on Wednesday, January 8th. Three 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 stock. According to data from MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and an average price target of $401.54.

Insider Activity

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

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.

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.