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

Cibc World Markets Corp lessened its stake in Corpay, Inc. (NYSE:CPAY) by 18.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,832 shares of the company’s stock after selling 2,471 shares during the period. Cibc World Markets Corp’s holdings in Corpay were worth $3,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPAY. Avion Wealth boosted its stake in shares of Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares in the last quarter. Quarry LP purchased a new stake in shares of Corpay in the 3rd quarter valued at $42,000. Spire Wealth Management purchased a new stake in shares of Corpay in the 4th quarter valued at $42,000. Finally, Assetmark Inc. boosted its stake in shares of Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock valued at $42,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the 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 completion of the transaction, the director now directly owns 12,215 shares in the company, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

CPAY has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Raymond James lowered their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada upped their price target 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. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company upped 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. Three research 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. According to MarketBeat, Corpay has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Up 0.2 %

Shares of Corpay stock opened at $352.98 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The company has a 50-day moving average of $364.55 and a 200 day moving average of $349.70. The firm 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. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81.

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