Custom Index Systems LLC Raises Stock Position in Corpay, Inc. (NYSE:CPAY)

Custom Index Systems LLC lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 2.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,367 shares of the company’s stock after purchasing an additional 38 shares during the quarter. Custom Index Systems LLC’s holdings in Corpay were worth $463,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Corpay during the 3rd quarter worth about $40,497,000. JPMorgan Chase & Co. increased its stake in shares of Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after buying an additional 120,578 shares during the period. Prana Capital Management LP acquired a new stake in Corpay in the third quarter valued at approximately $31,541,000. Swedbank AB lifted its stake in Corpay by 44.9% in the fourth quarter. Swedbank AB now owns 269,717 shares of the company’s stock worth $91,278,000 after acquiring an additional 83,600 shares during the last quarter. Finally, FMR LLC grew its holdings in Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after acquiring an additional 78,880 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Activity

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the sale, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

CPAY has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Barclays increased their price target on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Wells Fargo & Company boosted their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods dropped their target price on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, BMO Capital Markets boosted their price target on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $381.43.

Corpay Stock Down 1.8 %

Corpay stock opened at $380.55 on Friday. The firm has a market capitalization of $26.53 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.30 and a beta of 1.26. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $391.10. The stock’s fifty day moving average is $361.45 and its two-hundred day moving average is $332.45.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Thursday, November 7th. The company reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.05. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Corpay had a net margin of 26.14% and a return on equity of 39.44%. During the same period last year, the company posted $4.20 EPS. Analysts predict that Corpay, Inc. will post 17.84 EPS for the current fiscal year.

Corpay Company 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.