Two Sigma Securities LLC Decreases Stake in Corpay, Inc. (NYSE:CPAY)

Two Sigma Securities LLC cut its holdings in Corpay, Inc. (NYSE:CPAY) by 20.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 893 shares of the company’s stock after selling 230 shares during the quarter. Two Sigma Securities LLC’s holdings in Corpay were worth $302,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CPAY. Avion Wealth boosted its position in 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 in the last quarter. Versant Capital Management Inc boosted its position in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 60 shares in the last quarter. Spire Wealth Management purchased a new stake in Corpay during the fourth quarter worth $42,000. Assetmark Inc. boosted 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 purchasing an additional 60 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in Corpay during the fourth quarter worth $43,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CPAY. Wells Fargo & Company decreased their target price on Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Barclays decreased their target price on Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Keefe, Bruyette & Woods boosted their target price on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Oppenheimer began coverage on Corpay in a research note on Monday. They set a “market perform” rating on the stock. Finally, Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $397.62.

Corpay Price Performance

Corpay stock opened at $316.82 on Tuesday. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The firm has a 50 day moving average price of $333.71 and a 200 day moving average price of $351.26. The company has a market cap of $22.26 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.32 and a beta of 1.11. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY) last released its earnings results 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 net margin of 25.25% and a return on equity of 41.46%. Sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Activity at Corpay

In other Corpay 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 transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.10% of the stock is owned by insiders.

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.