Gibraltar Capital Management Inc. Acquires 323 Shares of Corpay, Inc. (NYSE:CPAY)

Gibraltar Capital Management Inc. boosted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,954 shares of the company’s stock after purchasing an additional 323 shares during the quarter. Corpay comprises approximately 3.0% of Gibraltar Capital Management Inc.’s holdings, making the stock its 17th largest position. Gibraltar Capital Management Inc.’s holdings in Corpay were worth $6,753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Corpay by 2.3% in the third 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 lifted its position in Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after purchasing an additional 78,880 shares during the period. Geode Capital Management LLC boosted its stake in Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after buying an additional 23,275 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Corpay by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock valued at $143,393,000 after buying an additional 1,749 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in shares of Corpay by 2.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock valued at $111,779,000 after buying an additional 8,378 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Price Performance

Shares of CPAY stock opened at $370.65 on Wednesday. The firm’s 50 day moving average price is $363.40 and its two-hundred day moving average price is $344.36. 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 stock has a market cap of $25.84 billion, a PE ratio of 26.51, a PEG ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last issued its 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%. As a group, analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Insider Transactions at Corpay

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction dated 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 owns 12,215 shares in the company, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CPAY shares. Raymond James cut their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. BMO Capital Markets upped their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Royal Bank of Canada lifted their target price on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price objective on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, Citigroup initiated coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. Three 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

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.