New York Life Investment Management LLC Raises Stock Position in Corpay, Inc. (NYSE:CPAY)

New York Life Investment Management LLC raised its position in Corpay, Inc. (NYSE:CPAY) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,379 shares of the company’s stock after purchasing an additional 62 shares during the period. New York Life Investment Management LLC’s holdings in Corpay were worth $3,512,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avion Wealth increased its holdings in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after buying an additional 91 shares in the last quarter. Versant Capital Management Inc increased its holdings in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares in the last quarter. Huntington National Bank increased its holdings in Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after buying an additional 40 shares in the last quarter. Quarry LP purchased a new position in Corpay in the third quarter valued at $42,000. Finally, Spire Wealth Management purchased a new position in Corpay in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

CPAY opened at $366.99 on Friday. The firm has a market capitalization of $25.58 billion, a PE ratio of 26.25, a PEG ratio of 1.32 and a beta of 1.28. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The firm’s 50-day moving average price is $365.02 and its 200 day moving average price is $345.73. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. As a group, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Finally, Raymond James dropped their target price 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. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s 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 transaction, the director now directly 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 through the SEC website. 6.10% of the stock is currently owned by company 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.