IFP Advisors Inc Purchases 30 Shares of Corpay, Inc. (NYSE:CPAY)

IFP Advisors Inc boosted its stake in Corpay, Inc. (NYSE:CPAY) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,151 shares of the company’s stock after purchasing an additional 30 shares during the quarter. IFP Advisors Inc’s holdings in Corpay were worth $390,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CPAY. Exchange Traded Concepts LLC grew its holdings in shares of Corpay by 16.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $69,000 after buying an additional 29 shares during the last quarter. Tealwood Asset Management Inc. grew its holdings in shares of Corpay by 0.7% during the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after buying an additional 30 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Corpay by 7.7% during the fourth quarter. Y.D. More Investments Ltd now owns 461 shares of the company’s stock valued at $156,000 after buying an additional 33 shares during the last quarter. Custom Index Systems LLC grew its holdings in shares of Corpay by 2.9% during the fourth quarter. Custom Index Systems LLC now owns 1,367 shares of the company’s stock valued at $463,000 after buying an additional 38 shares during the last quarter. Finally, Huntington National Bank lifted its position in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CPAY. Morgan Stanley raised 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. Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. BMO Capital Markets raised their price target on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Raymond James dropped their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Insider Activity

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 shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.10% of the company’s stock.

Corpay Stock Performance

Shares of CPAY stock opened at $366.99 on Friday. The firm’s 50-day simple moving average is $365.02 and its two-hundred day simple moving average is $345.73. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. 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 firm has a market cap of $25.58 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.32 and a beta of 1.28.

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 net margin of 25.25% and a return on equity of 41.46%. As a group, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share 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.