Journey Strategic Wealth LLC Invests $499,000 in Corpay, Inc. (NYSE:CPAY)

Journey Strategic Wealth LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,475 shares of the company’s stock, valued at approximately $499,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new stake in shares of Corpay during the third quarter worth approximately $27,000. Versant Capital Management Inc grew its holdings in Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares in the last quarter. Huntington National Bank increased its position in shares of Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after purchasing an additional 40 shares during the last quarter. Quarry LP acquired a new stake in shares of Corpay in the 3rd quarter valued at about $42,000. Finally, Synergy Asset Management LLC bought a new position in shares of Corpay during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CPAY shares. BMO Capital Markets boosted their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Jefferies Financial Group upped their price target on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Citigroup started coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a report on Wednesday, January 8th. Finally, Morgan Stanley lifted their price target on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Three 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’s stock. According to data from MarketBeat, Corpay has a consensus rating of “Moderate Buy” and a consensus target price of $381.43.

Insider Activity at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the transaction, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Corpay Trading Down 1.8 %

NYSE:CPAY opened at $380.55 on Monday. The stock has a market cap of $26.53 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.30 and a beta of 1.26. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $391.10. The business has a fifty day moving average of $361.47 and a 200-day moving average of $333.36.

Corpay (NYSE:CPAY) last announced its earnings results on Thursday, November 7th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.05. Corpay had a net margin of 26.14% and a return on equity of 39.44%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $4.20 EPS. Equities analysts predict that Corpay, Inc. will post 17.84 earnings per share for the current year.

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.