Proficio Capital Partners LLC Acquires New Stake in Corpay, Inc. (NYSE:CPAY)

Proficio Capital Partners LLC acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 84,605 shares of the company’s stock, valued at approximately $28,632,000. Proficio Capital Partners LLC owned approximately 0.12% of Corpay as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. increased its position in Corpay by 2.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 6,033 shares of the company’s stock valued at $2,042,000 after buying an additional 145 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Corpay by 1.8% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 28,100 shares of the company’s stock valued at $9,510,000 after buying an additional 500 shares in the last quarter. New York Life Investment Management LLC increased its position in Corpay by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 10,379 shares of the company’s stock valued at $3,512,000 after buying an additional 62 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Corpay by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock valued at $2,018,000 after buying an additional 30 shares in the last quarter. Finally, Gibraltar Capital Management Inc. boosted its stake in Corpay by 1.6% during the 4th quarter. Gibraltar Capital Management Inc. now owns 19,954 shares of the company’s stock valued at $6,753,000 after purchasing an additional 323 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

NYSE CPAY opened at $366.99 on Friday. The company has a market capitalization of $25.58 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.32 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 fifty day moving average is $365.02 and its 200 day moving average is $345.30. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81.

Corpay (NYSE:CPAY) last released its 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%. Sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on CPAY shares. Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Wolfe Research upgraded 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. Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods increased their target price on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction 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. This trade represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is owned by company insiders.

Corpay 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.