Mainstream Capital Management LLC Acquires Shares of 360 Corpay, Inc. (NYSE:CPAY)

Mainstream Capital Management LLC acquired a new stake in Corpay, Inc. (NYSE:CPAY) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 360 shares of the company’s stock, valued at approximately $122,000.

Several other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after buying an additional 120,578 shares during the period. FMR LLC increased its stake in Corpay by 3.0% in the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after buying an additional 78,880 shares during the period. Geode Capital Management LLC increased its stake in Corpay by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after buying an additional 23,275 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Corpay by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company’s stock valued at $160,904,000 after buying an additional 16,981 shares during the period. Finally, Eagle Asset Management Inc. grew its position in Corpay by 2.4% in the third quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock worth $111,779,000 after acquiring an additional 8,378 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Buying and Selling at Corpay

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 completion of the transaction, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CPAY shares. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. 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 research report on Thursday, February 6th. BMO Capital Markets boosted their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Raymond James decreased their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Corpay Price Performance

Shares of Corpay stock opened at $365.32 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a fifty day moving average price of $365.46 and a two-hundred day moving average price of $346.65. The company has a market cap of $25.47 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last issued its quarterly 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%. Analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

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.