Corpay, Inc. (NYSE:CPAY) Holdings Cut by QSV Equity Investors LLC

QSV Equity Investors LLC reduced its stake in shares of Corpay, Inc. (NYSE:CPAY) by 28.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 915 shares of the company’s stock after selling 360 shares during the period. QSV Equity Investors LLC’s holdings in Corpay were worth $310,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in Corpay in the third quarter worth approximately $1,309,000. Brooklyn Investment Group acquired a new position in shares of Corpay during the 3rd quarter worth $48,000. Freedom Investment Management Inc. bought a new position in shares of Corpay during the 3rd quarter valued at $967,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Corpay by 3.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,669 shares of the company’s stock valued at $3,962,000 after purchasing an additional 429 shares during the last quarter. Finally, Fiduciary Trust Co boosted its holdings in Corpay by 46.9% in the third quarter. Fiduciary Trust Co now owns 1,472 shares of the company’s stock worth $460,000 after purchasing an additional 470 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction dated 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 of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on CPAY shares. Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada raised 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. BMO Capital Markets upped their target price on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Citigroup initiated coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Finally, 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 note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Down 2.4 %

Shares of CPAY opened at $346.79 on Friday. 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 simple moving average of $363.75 and a 200-day simple moving average of $351.56. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The firm has a market capitalization of $24.36 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last posted its quarterly earnings results 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%. On average, equities research analysts expect 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.