Cibc World Markets Corp Cuts Stake in Corpay, Inc. (NYSE:CPAY)

Cibc World Markets Corp trimmed its position in shares of Corpay, Inc. (NYSE:CPAY) by 18.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 10,832 shares of the company’s stock after selling 2,471 shares during the quarter. Cibc World Markets Corp’s holdings in Corpay were worth $3,666,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gallacher Capital Management LLC boosted its holdings in shares of Corpay by 43.8% during the 4th quarter. Gallacher Capital Management LLC now owns 1,061 shares of the company’s stock valued at $359,000 after acquiring an additional 323 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Corpay by 2.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,768 shares of the company’s stock valued at $1,614,000 after acquiring an additional 110 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Corpay by 12.2% during the 4th quarter. Natixis Advisors LLC now owns 30,815 shares of the company’s stock valued at $10,428,000 after acquiring an additional 3,362 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Corpay by 77.3% during the 4th quarter. Intact Investment Management Inc. now owns 3,900 shares of the company’s stock valued at $1,320,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Aviso Financial Inc. purchased a new stake in shares of Corpay during the 4th quarter valued at about $151,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CPAY has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Citigroup initiated coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. Raymond James lowered their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. BMO Capital Markets increased 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. Finally, Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Corpay Price Performance

NYSE CPAY opened at $352.98 on Friday. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.32 and a beta of 1.25. The company’s 50 day moving average is $364.55 and its two-hundred day moving average is $349.70. 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 released its earnings results on Wednesday, February 5th. The company reported $4.96 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, research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred 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 in the company, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 6.10% of the company’s stock.

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.