Richard Macchia Sells 2,427 Shares of Corpay, Inc. (NYSE:CPAY) Stock

Corpay, Inc. (NYSE:CPAY) Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the transaction, the director now owns 12,215 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Corpay Price Performance

CPAY stock opened at $369.11 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The firm has a 50-day moving average of $361.45 and a 200 day moving average of $337.49. The company has a market cap of $25.73 billion, a P/E ratio of 26.40, a PEG ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY) last announced its 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%. On average, sell-side analysts forecast that Corpay, Inc. will post 20.62 EPS for the current year.

Hedge Funds Weigh In On Corpay

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB lifted its position in Corpay by 46.3% during the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after acquiring an additional 58,900 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Corpay by 66.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after purchasing an additional 2,355 shares in the last quarter. Retireful LLC purchased a new position in shares of Corpay during the third quarter valued at approximately $702,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Corpay in the 3rd quarter worth approximately $527,000. Finally, Banco Santander S.A. purchased a new stake in shares of Corpay in the 3rd quarter worth approximately $668,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CPAY shares. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research note on Wednesday, January 8th. Bank of America boosted their price target on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets lifted their price objective on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Morgan Stanley increased their target price on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, 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 note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and an average target price of $399.71.

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.