Capital Investment Services of America Inc. Sells 1,379 Shares of Corpay, Inc. (NYSE:CPAY)

Capital Investment Services of America Inc. trimmed its position in shares of Corpay, Inc. (NYSE:CPAY) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,336 shares of the company’s stock after selling 1,379 shares during the quarter. Corpay accounts for 2.5% of Capital Investment Services of America Inc.’s investment portfolio, making the stock its 18th largest holding. Capital Investment Services of America Inc.’s holdings in Corpay were worth $26,172,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPAY. Albion Financial Group UT purchased a new stake in Corpay in the 3rd quarter valued at $27,000. Versant Capital Management Inc grew its position in 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 purchasing an additional 60 shares in the last quarter. Spire Wealth Management bought a new position in shares of Corpay during the 4th quarter worth approximately $42,000. Huntington National Bank boosted 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 buying an additional 40 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Corpay during the third quarter valued at approximately $42,000. Institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

CPAY has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their price objective on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price target 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. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a report on Wednesday, January 8th. Finally, Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $381.43.

Corpay Trading Up 2.4 %

Shares of Corpay stock opened at $388.76 on Thursday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $391.10. The firm has a market cap of $27.10 billion, a PE ratio of 27.73, a PEG ratio of 1.30 and a beta of 1.28. The company has a 50 day simple moving average of $361.54 and a two-hundred day simple moving average of $335.21.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 39.44% and a net margin of 26.14%. Analysts expect that Corpay, Inc. will post 17.84 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.