SVB Wealth LLC Acquires New Position in Corpay, Inc. (NYSE:CPAY)

SVB Wealth LLC bought a new position in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,080 shares of the company’s stock, valued at approximately $5,442,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPAY. Exchange Traded Concepts LLC boosted its holdings in shares of Corpay by 16.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock worth $69,000 after purchasing an additional 29 shares during the last quarter. Tealwood Asset Management Inc. lifted its position in Corpay by 0.7% during the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock worth $1,420,000 after buying an additional 30 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Corpay by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock worth $2,018,000 after buying an additional 30 shares during the last quarter. IFP Advisors Inc grew its holdings in Corpay by 2.7% in the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock valued at $390,000 after buying an additional 30 shares during the period. Finally, Lake Street Advisors Group LLC increased its stake in shares of Corpay by 3.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock valued at $318,000 after acquiring an additional 32 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price 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. Keefe, Bruyette & Woods lifted their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley upped their price objective on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Royal Bank of Canada lifted their target price on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Finally, Raymond James dropped their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Stock Up 0.7 %

NYSE CPAY opened at $366.99 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The business has a 50 day moving average price of $365.02 and a two-hundred day moving average price of $345.73. The stock has a market cap of $25.58 billion, a PE ratio of 26.25, a P/E/G ratio of 1.32 and a beta of 1.28.

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

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the transaction, the director now directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.