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 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 completion of the transaction, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Corpay Price Performance

Corpay stock opened at $369.11 on Wednesday. The business’s 50 day simple moving average is $361.45 and its 200 day simple moving average is $337.49. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The company has a market cap of $25.73 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.33 and a beta of 1.28. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing analysts’ consensus estimates 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 forecast that Corpay, Inc. will post 20.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CPAY shares. Barclays upped their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Jefferies Financial Group raised their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company increased their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a 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 stock an “equal weight” rating in a report on Thursday, February 6th. Three 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. According to MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Hedge Funds Weigh In On Corpay

Several large investors have recently modified their holdings of CPAY. Vanguard Group Inc. raised its holdings in Corpay by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after acquiring an additional 120,688 shares during the period. LPL Financial LLC raised its stake in shares of Corpay by 19.7% during the 4th quarter. LPL Financial LLC now owns 9,823 shares of the company’s stock valued at $3,324,000 after purchasing an additional 1,620 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Corpay during the 4th quarter valued at $933,000. KLP Kapitalforvaltning AS purchased a new stake in Corpay during the 4th quarter worth about $15,536,000. Finally, Sei Investments Co. boosted its stake in Corpay by 8.0% in the 4th quarter. Sei Investments Co. now owns 52,150 shares of the company’s stock worth $17,649,000 after purchasing an additional 3,882 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

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.