Suncoast Equity Management Boosts Stock Position in Corpay, Inc. (NYSE:CPAY)

Suncoast Equity Management raised its holdings in Corpay, Inc. (NYSE:CPAY) by 10.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after buying an additional 120,578 shares during the period. FMR LLC grew its position in shares of Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after acquiring an additional 78,880 shares during the period. Geode Capital Management LLC increased its stake in shares of Corpay by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after purchasing an additional 23,275 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Corpay by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after purchasing an additional 1,749 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in Corpay by 2.4% in the third quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock valued at $111,779,000 after purchasing an additional 8,378 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Performance

NYSE CPAY opened at $368.47 on Friday. The company’s 50 day simple moving average is $362.83 and its two-hundred day simple moving average is $341.54. 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 stock has a market capitalization of $25.69 billion, a PE ratio of 26.36, a P/E/G ratio of 1.38 and a beta of 1.28.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (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%. Analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CPAY has been the subject of a number of recent research reports. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. 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. Royal Bank of Canada boosted their price objective on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Wells Fargo & Company increased their target price on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley boosted their price target on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Corpay has an average rating of “Moderate Buy” and an average price target of $399.71.

Insider Buying and Selling at Corpay

In other Corpay 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 completion of the sale, the director now directly owns 12,215 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Insiders own 6.10% of the company’s stock.

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.