Suncoast Equity Management Purchases 430 Shares of Corpay, Inc. (NYSE:CPAY)

Suncoast Equity Management lifted its position in shares of Corpay, Inc. (NYSE:CPAY) by 10.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,483 shares of the company’s stock after purchasing an additional 430 shares during the quarter. Suncoast Equity Management’s holdings in Corpay were worth $1,517,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CPAY. Swedbank AB grew its stake in shares of Corpay by 46.3% during the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after buying an additional 58,900 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after acquiring an additional 2,355 shares during the period. Retireful LLC bought a new position in Corpay during the 3rd quarter worth approximately $702,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Corpay in the 3rd quarter worth approximately $527,000. Finally, Banco Santander S.A. bought a new stake in Corpay in the third quarter valued at approximately $668,000. Institutional investors own 98.84% of the company’s stock.

Insider Transactions at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.10% of the company’s stock.

Corpay Stock Down 2.6 %

CPAY stock opened at $368.47 on Friday. The company has a market capitalization of $25.69 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 1.38 and a beta of 1.28. 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 business’s 50 day moving average price is $362.83 and its two-hundred day moving average price is $341.54. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week 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 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 earnings per share for the current fiscal year.

Analyst Ratings Changes

CPAY has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. BMO Capital Markets raised their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Royal Bank of Canada upped their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Wolfe Research raised 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. Finally, Wells Fargo & Company boosted their price target on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Three investment 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.