Corpay, Inc. (NYSE:CPAY) Shares Acquired by Colonial Trust Co SC

Colonial Trust Co SC increased its stake in shares of Corpay, Inc. (NYSE:CPAY) by 120.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97 shares of the company’s stock after acquiring an additional 53 shares during the quarter. Colonial Trust Co SC’s holdings in Corpay were worth $33,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPAY. Avion Wealth grew its holdings in shares of Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Spire Wealth Management purchased a new position in Corpay during the 4th quarter worth approximately $42,000. Assetmark Inc. increased its position in Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after buying an additional 60 shares during the period. Synergy Asset Management LLC acquired a new position in Corpay during the fourth quarter worth approximately $43,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Corpay by 70.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company’s stock valued at $45,000 after buying an additional 55 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

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 sale, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of recent research reports. Barclays cut their target price on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Royal Bank of Canada upped their target price 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. Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. Oppenheimer initiated coverage on Corpay in a research note on Monday, April 28th. They set a “market perform” rating for the company. Finally, UBS Group lowered their target price on Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and an average price target of $395.07.

Corpay Price Performance

Shares of NYSE CPAY opened at $327.13 on Friday. The company’s fifty day moving average is $326.84 and its two-hundred day moving average is $349.90. 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 firm has a market capitalization of $22.98 billion, a P/E ratio of 23.40, a PEG ratio of 1.32 and a beta of 0.98. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81.

Corpay (NYSE:CPAY) last issued its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted $4.10 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.