Maryland State Retirement & Pension System Sells 350 Shares of Corpay, Inc. (NYSE:CPAY)

Maryland State Retirement & Pension System decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 8.9% in the 4th quarter, HoldingsChannel reports. The firm owned 3,603 shares of the company’s stock after selling 350 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Corpay were worth $1,219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Pathstone Holdings LLC lifted its holdings in shares of Corpay by 3.9% in the third quarter. Pathstone Holdings LLC now owns 5,487 shares of the company’s stock worth $1,716,000 after acquiring an additional 206 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Corpay in the third quarter worth about $527,000. PNC Financial Services Group Inc. lifted its holdings in shares of Corpay by 32.3% in the third quarter. PNC Financial Services Group Inc. now owns 6,334 shares of the company’s stock worth $1,981,000 after acquiring an additional 1,546 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Corpay by 73.9% in the third quarter. King Luther Capital Management Corp now owns 12,729 shares of the company’s stock worth $3,981,000 after acquiring an additional 5,408 shares during the last quarter. Finally, Banco Santander S.A. bought a new position in shares of Corpay in the third quarter worth about $668,000. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

CPAY has been the subject of several recent research reports. Morgan Stanley upped their price objective on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods upped their price objective on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Royal Bank of Canada upped their price objective on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Citigroup initiated coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three investment 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Insiders Place Their Bets

In other Corpay 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 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.10% of the company’s stock.

Corpay Price Performance

Corpay stock opened at $347.12 on Friday. The stock has a market capitalization of $24.38 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The stock’s 50 day moving average price is $364.50 and its two-hundred day moving average price is $350.17. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (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%. On average, equities analysts predict that Corpay, Inc. will post 19.76 earnings per share 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.