South Dakota Investment Council Sells 700 Shares of Corpay, Inc. (NYSE:CPAY)

South Dakota Investment Council trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 26.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,907 shares of the company’s stock after selling 700 shares during the quarter. South Dakota Investment Council’s holdings in Corpay were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning lifted its stake in Corpay by 26.4% in the third quarter. Creative Planning now owns 6,247 shares of the company’s stock valued at $1,954,000 after purchasing an additional 1,305 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Corpay by 15.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 20,228 shares of the company’s stock valued at $6,327,000 after buying an additional 2,751 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Corpay by 5.3% in the third quarter. Sequoia Financial Advisors LLC now owns 1,390 shares of the company’s stock valued at $435,000 after buying an additional 70 shares during the period. Signaturefd LLC lifted its position in shares of Corpay by 22.3% during the 3rd quarter. Signaturefd LLC now owns 252 shares of the company’s stock valued at $79,000 after buying an additional 46 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Corpay during the 3rd quarter worth $40,497,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CPAY shares. Morgan Stanley boosted 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. Raymond James lowered their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a report on Wednesday, January 8th. BMO Capital Markets boosted their target price on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $399.71.

Corpay Price Performance

Shares of Corpay stock opened at $361.10 on Tuesday. 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, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a fifty day moving average of $363.03 and a 200-day moving average of $343.75. The stock has a market capitalization of $25.17 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28.

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 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%. Equities research analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the sale, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.10% of the stock is owned by insiders.

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.