First Citizens Bank & Trust Co. Lowers Stock Position in Corpay, Inc. (NYSE:CPAY)

First Citizens Bank & Trust Co. reduced its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 48.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 833 shares of the company's stock after selling 778 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Corpay were worth $290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Avion Wealth increased its stake in Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after purchasing an additional 91 shares during the period. Colonial Trust Co SC boosted its holdings in shares of Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after acquiring an additional 53 shares during the last quarter. Assetmark Inc. grew its stake in shares of Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after purchasing an additional 60 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Corpay by 70.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock valued at $45,000 after purchasing an additional 55 shares during the period. Finally, Knuff & Co LLC bought a new stake in Corpay during the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Monday, April 14th. UBS Group dropped their target price on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday. Oppenheimer assumed coverage on shares of Corpay in a report on Monday, April 28th. They issued a "market perform" rating for the company. Finally, Wells Fargo & Company lowered their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $398.07.

Corpay Trading Up 0.5%

NYSE:CPAY traded up $1.58 on Thursday, hitting $350.31. 428,808 shares of the stock were exchanged, compared to its average volume of 481,306. The company's 50-day moving average price is $324.33 and its 200 day moving average price is $347.30. The stock has a market capitalization of $24.69 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 1.32 and a beta of 0.96. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the firm posted $4.10 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts forecast 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.