Retirement Systems of Alabama Has $5.11 Million Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Retirement Systems of Alabama cut its holdings in Corpay, Inc. (NYSE:CPAY) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,093 shares of the company’s stock after selling 152 shares during the quarter. Retirement Systems of Alabama’s holdings in Corpay were worth $5,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Exchange Traded Concepts LLC grew its position in shares of Corpay by 16.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $69,000 after purchasing an additional 29 shares during the period. Tealwood Asset Management Inc. grew its position in shares of Corpay by 0.7% in the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after purchasing an additional 30 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Corpay by 22.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after acquiring an additional 34 shares during the last quarter. Mather Group LLC. boosted its position in Corpay by 21.2% during the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after acquiring an additional 35 shares during the last quarter. Finally, Custom Index Systems LLC boosted its position in Corpay by 2.9% during the 4th quarter. Custom Index Systems LLC now owns 1,367 shares of the company’s stock worth $463,000 after acquiring an additional 38 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CPAY. Keefe, Bruyette & Woods upped their price target on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. BMO Capital Markets upped their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Bank of America upped their price target on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Citigroup assumed coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $399.71.

Insider Activity at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Macchia sold 2,427 shares of the 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 13,402 shares of company stock worth $4,987,164. Company insiders own 6.10% of the company’s stock.

Corpay Stock Down 0.2 %

CPAY opened at $375.06 on Tuesday. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The stock’s fifty day simple moving average is $361.61 and its 200 day simple moving average is $336.86. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock has a market cap of $26.15 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 1.33 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 for the quarter, missing analysts’ consensus estimates 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, research analysts expect that Corpay, Inc. will post 20.62 earnings per share for the current year.

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.