983 Shares in Corpay, Inc. (NYSE:CPAY) Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new position in Corpay, Inc. (NYSE:CPAY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 983 shares of the company's stock, valued at approximately $333,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 acquiring an additional 3,504 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Corpay by 70.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock valued at $1,689,000 after purchasing an additional 2,059 shares during the period. Radnor Capital Management LLC bought a new position in Corpay in the 4th quarter worth about $3,667,000. Nisa Investment Advisors LLC increased its stake in shares of Corpay by 68.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company's stock valued at $1,342,000 after purchasing an additional 1,611 shares during the period. Finally, Journey Strategic Wealth LLC bought a new stake in shares of Corpay during the fourth quarter valued at approximately $499,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

Shares of Corpay stock traded up $1.37 during midday trading on Thursday, hitting $327.22. The company had a trading volume of 567,228 shares, compared to its average volume of 488,466. The stock has a market cap of $22.99 billion, a PE ratio of 23.41, a P/E/G ratio of 1.32 and a beta of 0.98. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The business's 50 day simple moving average is $328.04 and its two-hundred day simple moving average is $350.23. 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 (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business earned $4.10 earnings per share. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley raised their target price on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Oppenheimer assumed coverage on shares of Corpay in a report on Monday, April 28th. They issued a "market perform" rating for the company. UBS Group lowered their target price on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday. Royal Bank of Canada upped their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Finally, Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective on the stock in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $395.07.

Insider Buying and Selling

In other Corpay news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is owned by company insiders.

Corpay 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.