Tower Research Capital LLC TRC Raises Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Tower Research Capital LLC TRC raised its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 126.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,485 shares of the company's stock after purchasing an additional 3,622 shares during the period. Tower Research Capital LLC TRC's holdings in Corpay were worth $2,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CPAY. Allspring Global Investments Holdings LLC raised its stake in Corpay by 17.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock valued at $8,067,000 after purchasing an additional 3,504 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Corpay by 70.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock worth $1,689,000 after buying an additional 2,059 shares during the last quarter. Radnor Capital Management LLC purchased a new stake in shares of Corpay during the 4th quarter valued at about $3,667,000. Nisa Investment Advisors LLC lifted its holdings in shares of Corpay by 68.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company's stock valued at $1,342,000 after acquiring an additional 1,611 shares during the last quarter. Finally, Journey Strategic Wealth LLC purchased a new position in Corpay in the fourth quarter worth about $499,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Trading Down 0.3 %

NYSE:CPAY traded down $0.90 during midday trading on Monday, hitting $321.13. The stock had a trading volume of 73,973 shares, compared to its average volume of 474,828. The stock has a 50-day moving average of $334.94 and a 200 day moving average of $351.42. The company has a market capitalization of $22.56 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.32 and a beta of 1.11. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY - Get Free Report) last posted 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%. As a group, sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CPAY shares. Citigroup assumed coverage on Corpay in a research report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price objective on the stock. Wells Fargo & Company decreased their price target on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a report on Thursday. Raymond James dropped their price objective on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada increased their target price on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods lifted their price target 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. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $397.62.

Insider Buying and Selling 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 shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.10% of the company's stock.

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.