Moran Wealth Management LLC Purchases 647 Shares of Corpay, Inc. (NYSE:CPAY)

Moran Wealth Management LLC boosted its stake in Corpay, Inc. (NYSE:CPAY) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,619 shares of the company’s stock after acquiring an additional 647 shares during the period. Moran Wealth Management LLC’s holdings in Corpay were worth $4,947,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB raised its position in Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after acquiring an additional 58,900 shares during the period. Oppenheimer Asset Management Inc. raised its position in Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after acquiring an additional 2,355 shares during the period. Retireful LLC bought a new stake in Corpay in the third quarter worth about $702,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Corpay in the third quarter worth about $527,000. Finally, Allspring Global Investments Holdings LLC raised its position in Corpay by 17.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after acquiring an additional 3,504 shares during the period. Institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of NYSE:CPAY opened at $323.80 on Tuesday. The company has a 50 day moving average of $365.29 and a 200 day moving average of $348.33. The stock has a market cap of $22.75 billion, a P/E ratio of 23.16, a P/E/G ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. 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 data on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. As a group, sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard Macchia sold 2,427 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the transaction, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

CPAY has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Royal Bank of Canada lifted their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Morgan Stanley lifted their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Raymond James reduced their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Corpay Company 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.