Corient Private Wealth LLC Sells 1,985 Shares of Corpay, Inc. (NYSE:CPAY)

Corient Private Wealth LLC decreased its stake in shares of Corpay, Inc. (NYSE:CPAY) by 2.4% during the fourth quarter, HoldingsChannel reports. The firm owned 80,181 shares of the company’s stock after selling 1,985 shares during the quarter. Corient Private Wealth LLC’s holdings in Corpay were worth $27,135,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Corpay during the fourth quarter valued at approximately $134,950,000. JPMorgan Chase & Co. raised its holdings in shares of Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares during the last quarter. Prana Capital Management LP purchased a new position in shares of Corpay during the third quarter valued at approximately $31,541,000. Proficio Capital Partners LLC purchased a new position in shares of Corpay during the fourth quarter valued at approximately $28,632,000. Finally, Swedbank AB raised its holdings in shares of Corpay by 44.9% during the fourth quarter. Swedbank AB now owns 269,717 shares of the company’s stock valued at $91,278,000 after purchasing an additional 83,600 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several research reports. Citigroup assumed coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Morgan Stanley boosted 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. Keefe, Bruyette & Woods boosted their target price on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Royal Bank of Canada boosted their target price on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company boosted 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. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Corpay Price Performance

CPAY stock opened at $347.57 on Wednesday. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81. The company’s fifty day moving average price is $364.75 and its 200-day moving average price is $349.66. 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 market capitalization of $24.42 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last released its 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 return on equity of 41.46% and a net margin of 25.25%. On average, equities analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Transactions at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, 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 Securities & Exchange Commission, which is available through this link. Insiders own 6.10% of the company’s stock.

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.