Corpay, Inc. (NYSE:CPAY) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 67.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,725 shares of the company's stock after buying an additional 58,510 shares during the period. BNP Paribas Financial Markets owned about 0.21% of Corpay worth $48,978,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Avion Wealth lifted its position in shares of Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Spire Wealth Management bought a new position in Corpay in the 4th quarter worth about $42,000. Assetmark Inc. increased its position in shares of Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after acquiring an additional 60 shares during the period. Synergy Asset Management LLC bought a new stake in shares of Corpay during the fourth quarter valued at approximately $43,000. Finally, EverSource Wealth Advisors LLC grew its stake in Corpay by 70.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock worth $45,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 98.84% of the company's stock.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the company's 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 in the company, valued at $4,583,434.45. This 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 available at this link. Company insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

CPAY has been the subject of several research reports. Morgan Stanley upped their price target on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Barclays cut their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Keefe, Bruyette & Woods upped their price objective on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Citigroup began 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. Finally, Raymond James reiterated an "outperform" rating and issued a $414.00 target price (down from $417.00) on shares of Corpay in a report on Wednesday. Five 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $395.07.

Corpay Stock Performance

NYSE:CPAY traded up $0.15 during trading hours on Friday, hitting $327.13. 411,495 shares of the company were exchanged, compared to its average volume of 483,886. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.32 and a beta of 0.98. The company's 50 day moving average price is $326.84 and its 200-day moving average price is $349.90.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.50 by $0.01. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm earned $4.10 EPS. The firm's revenue was up 7.5% on a year-over-year basis. As a group, research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.