Raymond James Financial Inc. Purchases Shares of 398,766 Corpay, Inc. (NYSE:CPAY)

Raymond James Financial Inc. purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 398,766 shares of the company’s stock, valued at approximately $134,950,000. Raymond James Financial Inc. owned approximately 0.57% of Corpay at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avion Wealth increased its stake in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares in the last quarter. Huntington National Bank grew its stake in shares of Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after acquiring an additional 40 shares in the last quarter. Quarry LP bought a new stake in shares of Corpay in the 3rd quarter worth $42,000. Finally, Spire Wealth Management bought a new stake in shares of Corpay in the 4th quarter worth $42,000. Institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling at Corpay

In other 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CPAY shares. Wells Fargo & Company upped their target price on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Raymond James reduced their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada increased their price target on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets increased 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 research 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Price Performance

NYSE CPAY opened at $335.78 on Friday. The company has a market cap of $23.59 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The firm’s 50-day simple moving average is $365.56 and its two-hundred day simple moving average is $347.36.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. Research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current 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.