Lederer & Associates Investment Counsel CA Has $914,000 Stake in Corpay, Inc. (NYSE:CPAY)

Lederer & Associates Investment Counsel CA trimmed its position in shares of Corpay, Inc. (NYSE:CPAY) by 27.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,701 shares of the company’s stock after selling 1,022 shares during the quarter. Lederer & Associates Investment Counsel CA’s holdings in Corpay were worth $914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Albion Financial Group UT acquired a new stake in Corpay in the 3rd quarter worth approximately $27,000. Versant Capital Management Inc lifted its holdings in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 60 shares during the last quarter. Huntington National Bank lifted its holdings in 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 bought a new position in Corpay in the 3rd quarter worth approximately $42,000. Finally, Spire Wealth Management bought a new position in Corpay in the 4th quarter worth approximately $42,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CPAY. Citigroup began coverage on Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Wells Fargo & Company lifted their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. BMO Capital Markets lifted their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley lifted their price target on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.43.

Corpay Price Performance

Corpay stock opened at $380.55 on Monday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $26.53 billion, a P/E ratio of 27.14, a P/E/G ratio of 1.30 and a beta of 1.28. The business’s fifty day moving average is $361.47 and its two-hundred day moving average is $333.61. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $391.10.

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

Insider Activity

In other news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction on 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 owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $2,960,320.00. Following the completion of the sale, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. This represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

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.