Corpay, Inc. (NYSE:CPAY) Shares Sold by WBI Investments LLC

WBI Investments LLC lowered its stake in shares of Corpay, Inc. (NYSE:CPAY) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,010 shares of the company’s stock after selling 110 shares during the quarter. WBI Investments LLC’s holdings in Corpay were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC raised its holdings in Corpay by 417.1% during the fourth quarter. Squarepoint Ops LLC now owns 9,669 shares of the company’s stock worth $3,272,000 after purchasing an additional 7,799 shares in the last quarter. Twinbeech Capital LP acquired a new stake in Corpay during the fourth quarter worth approximately $35,969,000. Two Sigma Investments LP acquired a new stake in Corpay during the fourth quarter worth approximately $426,000. Tidal Investments LLC raised its holdings in Corpay by 17.8% during the fourth quarter. Tidal Investments LLC now owns 5,466 shares of the company’s stock worth $1,850,000 after purchasing an additional 825 shares in the last quarter. Finally, State of Wyoming raised its holdings in Corpay by 17.6% during the fourth quarter. State of Wyoming now owns 743 shares of the company’s stock worth $251,000 after purchasing an additional 111 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE:CPAY opened at $348.39 on Tuesday. The firm’s fifty day moving average price is $328.49 and its 200 day moving average price is $350.63. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. 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 firm has a market cap of $24.56 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating analysts’ consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm posted $4.10 EPS. Corpay’s quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Upgrades and Downgrades

CPAY has been the topic of a number of research analyst reports. Raymond James reissued an “outperform” rating and set a $414.00 price objective (down previously from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Royal Bank of Canada raised their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Oppenheimer began coverage on shares of Corpay in a research report on Monday, April 28th. They set a “market perform” rating on the stock. UBS Group lowered their target price on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company lowered their target price on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus target price of $395.07.

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.