D.A. Davidson & CO. Invests $350,000 in Corpay, Inc. (NYSE:CPAY)

D.A. Davidson & CO. acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,034 shares of the company’s stock, valued at approximately $350,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avion Wealth boosted its position in Corpay by 1,011.1% during 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. Versant Capital Management Inc boosted its position in Corpay by 130.4% during 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 boosted its position in Corpay by 43.0% during 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. Quarry LP acquired a new position in Corpay during the third quarter valued at approximately $42,000. Finally, Spire Wealth Management acquired a new position in Corpay during the fourth quarter valued at approximately $42,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CPAY shares. BMO Capital Markets increased their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company upped their price objective on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Citigroup began coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on Corpay from $415.00 to $445.00 and gave the company an “outperform” 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the 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 sale, the director now owns 12,215 shares of the company’s stock, valued at $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 is available through the SEC website. 6.10% of the stock is currently owned by company insiders.

Corpay Price Performance

Shares of NYSE CPAY opened at $371.71 on Thursday. The firm has a market cap of $25.91 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The business’s 50 day moving average is $364.05 and its 200-day moving average is $344.55.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. Equities 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.