Truist Financial Corp Has $2.84 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Truist Financial Corp grew its stake in shares of Corpay, Inc. (NYSE:CPAY) by 15.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,389 shares of the company’s stock after purchasing an additional 1,151 shares during the quarter. Truist Financial Corp’s holdings in Corpay were worth $2,839,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Avion Wealth increased its holdings in shares of Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc boosted its stake in Corpay by 130.4% in the 4th 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 period. Huntington National Bank boosted its stake in Corpay by 43.0% in the 3rd 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 period. Quarry LP bought a new stake in Corpay in the 3rd quarter valued at $42,000. Finally, Spire Wealth Management bought a new stake in Corpay in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Up 2.6 %

Shares of Corpay stock opened at $370.65 on Wednesday. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The stock’s 50-day moving average is $363.40 and its 200 day moving average is $344.36. The firm has a market cap of $25.84 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last announced its quarterly 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 41.46% and a net margin of 25.25%. Equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CPAY shares. Morgan Stanley boosted their price target on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. BMO Capital Markets upped their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Keefe, Bruyette & Woods upped their target price on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Citigroup initiated coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Three 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’s stock. According to data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Insider Transactions at Corpay

In other 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 value of $910,683.21. Following the completion of the sale, the director now directly 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 6.10% of the company’s stock.

About Corpay

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.