SVB Wealth LLC Purchases New Position in Corpay, Inc. (NYSE:CPAY)

SVB Wealth LLC acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,080 shares of the company’s stock, valued at approximately $5,442,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPAY. Exchange Traded Concepts LLC boosted its stake in Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock worth $69,000 after purchasing an additional 29 shares during the period. Tealwood Asset Management Inc. raised its holdings in shares of Corpay by 0.7% in the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after buying an additional 30 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Corpay by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock worth $2,018,000 after buying an additional 30 shares during the period. IFP Advisors Inc grew its holdings in shares of Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock worth $390,000 after buying an additional 30 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in Corpay by 3.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock valued at $318,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the transaction, the director now directly owns 12,215 shares in the company, valued at $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 at this hyperlink. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley lifted their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Royal Bank of Canada upped their price objective 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. Keefe, Bruyette & Woods raised 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. Finally, Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Corpay Price Performance

CPAY stock opened at $366.99 on Friday. The firm has a 50 day moving average of $365.02 and a 200-day moving average of $345.73. The company has a market cap of $25.58 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.32 and a beta of 1.28. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81.

Corpay (NYSE:CPAY) last issued its quarterly earnings data 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 41.46% and a net margin of 25.25%. As a group, equities analysts expect that Corpay, Inc. will post 19.76 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.