Corpay, Inc. (NYSE:CPAY) Short Interest Update

Corpay, Inc. (NYSE:CPAY) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,710,000 shares, a decrease of 16.2% from the February 28th total of 2,040,000 shares. Currently, 2.5% of the company’s shares are sold short. Based on an average daily volume of 474,000 shares, the short-interest ratio is presently 3.6 days.

Corpay Stock Up 2.2 %

CPAY stock traded up $7.57 during midday trading on Wednesday, hitting $359.56. The company’s stock had a trading volume of 392,278 shares, compared to its average volume of 474,981. The stock has a market capitalization of $25.26 billion, a P/E ratio of 25.72, a PEG ratio of 1.32 and a beta of 1.25. The company’s fifty day moving average price is $362.83 and its 200 day moving average price is $352.79. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay has a twelve month low of $247.10 and a twelve month high of $400.81.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (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, equities research analysts predict that Corpay will post 19.76 EPS for the current year.

Insider Buying and Selling at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the business’s 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 completion of the sale, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Corpay

Hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Corpay by 163.7% during the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock worth $570,801,000 after acquiring an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock valued at $1,976,651,000 after purchasing an additional 1,000,699 shares during the last quarter. Norges Bank bought a new position in shares of Corpay in the fourth quarter valued at about $241,739,000. Raymond James Financial Inc. acquired a new stake in Corpay during the 4th quarter worth approximately $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. bought a new stake in Corpay in the 4th quarter valued at $116,179,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on CPAY. Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Citigroup assumed coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target for the company. Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. BMO Capital Markets boosted their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

About Corpay

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.