Premier Fund Managers Ltd Has $38.58 Million Position in Corpay, Inc. $CPAY

Key Points

• Premier Fund Managers Ltd reduced its stake in Corpay by 26.1% in Q4 to 126,413 shares worth $38.58 million, representing about 2.2% of the fund and its 5th-largest holding.
• CAO Alissa B. Vickery sold 1,701 shares at an average of $358.65 on Feb 10, cutting her stake by ~43.8%; insiders now own 5.19% of Corpay.
• Corpay beat quarterly estimates with $6.04 EPS and $1.25B revenue (revenue +20.7% YoY), and analysts maintain a generally positive view with a "Moderate Buy" consensus and an average target near $373.92.

Premier Fund Managers Ltd lowered its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 126,413 shares of the company's stock after selling 44,590 shares during the quarter. Corpay makes up approximately 2.2% of Premier Fund Managers Ltd's holdings, making the stock its 5th biggest holding. Premier Fund Managers Ltd owned about 0.18% of Corpay worth $38,582,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPAY. BOKF NA boosted its stake in shares of Corpay by 4,700.0% in the 3rd quarter. BOKF NA now owns 96 shares of the company's stock valued at $28,000 after purchasing an additional 94 shares during the last quarter. Torren Management LLC acquired a new position in Corpay in the fourth quarter valued at approximately $29,000. Root Financial Partners LLC acquired a new position in Corpay in the third quarter valued at approximately $40,000. Board of the Pension Protection Fund bought a new position in Corpay in the fourth quarter valued at approximately $48,000. Finally, Advisory Services Network LLC bought a new position in Corpay in the third quarter valued at approximately $48,000. 98.84% of the stock is owned by institutional investors.

Insider Transactions at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 1,701 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $358.65, for a total value of $610,063.65. Following the completion of the sale, the chief accounting officer directly owned 2,180 shares in the company, valued at $781,857. This represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.19% of the company's stock.

Corpay Trading Up 0.6%

Shares of NYSE CPAY opened at $305.55 on Thursday. The company's fifty day moving average is $311.51 and its 200-day moving average is $307.90. The stock has a market cap of $20.79 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 0.86 and a beta of 0.81. Corpay, Inc. has a twelve month low of $252.84 and a twelve month high of $361.99. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.70.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $6.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.93 by $0.11. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Corpay had a net margin of 23.62% and a return on equity of 37.13%. The firm's revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.36 EPS. Equities research analysts predict that Corpay, Inc. will post 24.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Corpay from a "hold" rating to a "buy" rating in a research report on Monday, March 23rd. Royal Bank Of Canada lifted their price objective on Corpay from $344.00 to $363.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 5th. Scotiabank upgraded Corpay to a "sector outperform" rating in a report on Monday, January 26th. Raymond James Financial reissued an "outperform" rating and issued a $361.00 target price on shares of Corpay in a research note on Thursday, March 5th. Finally, Morgan Stanley raised their target price on Corpay from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Corpay has an average rating of "Moderate Buy" and an average target price of $373.92.

About Corpay

Corpay NYSE: CPAY is a global payments and fintech company that provides businesses with tools to manage, move and optimize corporate spend. The company focuses on commercial payments, foreign exchange and cross-border transactions, aiming to simplify treasury operations and reduce friction in business-to-business payments through technology-driven solutions.

Its product offering includes payment processing and accounts payable automation, corporate and virtual card programs, expense management tools, and foreign-exchange hedging and execution services for international payments.

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