Intact Investment Management Inc. Grows Position in Corpay, Inc. (NYSE:CPAY)

Intact Investment Management Inc. raised its position in Corpay, Inc. (NYSE:CPAY) by 77.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,900 shares of the company’s stock after buying an additional 1,700 shares during the quarter. Intact Investment Management Inc.’s holdings in Corpay were worth $1,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CPAY. Avion Wealth raised its position in Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Versant Capital Management Inc grew its position 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 purchasing an additional 60 shares during the last quarter. Huntington National Bank raised its holdings in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after buying an additional 40 shares during the last quarter. Quarry LP acquired a new stake in shares of Corpay during the third quarter worth about $42,000. Finally, Spire Wealth Management purchased a new position in shares of Corpay during the fourth quarter worth about $42,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Performance

Shares of CPAY stock opened at $338.14 on Friday. The firm has a market capitalization of $23.75 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. 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 company has a 50 day moving average price of $364.64 and a 200 day moving average price of $348.54. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share 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 anticipate that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the company’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. This represents a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CPAY. Citigroup initiated coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley lifted their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $399.71.

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.