Short Interest in Corpay, Inc. (NYSE:CPAY) Expands By 31.6%

Corpay, Inc. (NYSE:CPAY) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,040,000 shares, a growth of 31.6% from the February 13th total of 1,550,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily volume of 474,100 shares, the days-to-cover ratio is currently 4.3 days.

Insider Activity at Corpay

In related 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 sale, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Corpay

Several institutional investors and hedge funds have recently made changes to their positions in CPAY. Avion Wealth raised its holdings in shares of Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Colonial Trust Co SC raised its holdings in shares of Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock valued at $33,000 after purchasing an additional 53 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares during the last quarter. Huntington National Bank raised its holdings in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Corpay in the third quarter valued at about $42,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Down 0.1 %

CPAY traded down $0.37 during trading on Tuesday, hitting $346.94. 193,483 shares of the company’s stock were exchanged, compared to its average volume of 484,908. 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 business’s 50 day moving average is $364.75 and its two-hundred day moving average is $349.44. Corpay has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The stock has a market cap of $24.37 billion, a P/E ratio of 24.82, a PEG ratio of 1.32 and a beta of 1.25.

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

Analysts Set New Price Targets

CPAY has been the topic of several research reports. Raymond James decreased their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada lifted their price target 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. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a report on Wednesday, January 8th. BMO Capital Markets boosted their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Morgan Stanley upped their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

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.