Kestra Investment Management LLC Boosts Stock Position in Corpay, Inc. (NYSE:CPAY)

Kestra Investment Management LLC lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 23.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 841 shares of the company’s stock after acquiring an additional 162 shares during the quarter. Kestra Investment Management LLC’s holdings in Corpay were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avion Wealth boosted its position in shares of Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc lifted its stake in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares in the last quarter. Huntington National Bank boosted 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 buying an additional 40 shares during the period. Quarry LP purchased a new stake in Corpay in the 3rd quarter worth $42,000. Finally, Spire Wealth Management bought a new stake in Corpay during the fourth quarter valued at about $42,000. Institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CPAY shares. Royal Bank of Canada upped their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Barclays increased their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Morgan Stanley boosted their target price 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. BMO Capital Markets raised their target price on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company boosted their price target on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $399.71.

Corpay Price Performance

NYSE:CPAY opened at $378.20 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The business has a 50 day simple moving average of $362.68 and a 200-day simple moving average of $341.35. The firm has a market capitalization of $26.36 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.35 and a beta of 1.28. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81.

Corpay (NYSE:CPAY) last released 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 return on equity of 41.46% and a net margin of 25.25%. Equities analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Transactions at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the sale, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.10% of the company’s stock.

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.