Corpay, Inc. (NYSE:CPAY) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in Corpay, Inc. (NYSE:CPAY) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,821 shares of the company’s stock after selling 97 shares during the quarter. Amalgamated Bank’s holdings in Corpay were worth $5,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPAY. Avion Wealth boosted its holdings in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Versant Capital Management Inc raised its position 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 during the last quarter. Huntington National Bank boosted its stake in Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after purchasing an additional 40 shares in the last quarter. Quarry LP purchased a new stake in Corpay during the 3rd quarter worth approximately $42,000. Finally, Spire Wealth Management acquired a new position in Corpay during the 4th quarter valued at approximately $42,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Price Performance

NYSE:CPAY opened at $364.17 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 price of $364.55 and a 200-day moving average price of $344.69. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The firm has a market cap of $25.39 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last released its quarterly earnings data 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%. Equities research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of research analyst 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 on the stock. Wells Fargo & Company lifted their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Raymond James cut their price objective on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. Finally, Royal Bank of Canada upped their target price on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by company insiders.

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.