Corpay, Inc. (NYSE:CPAY) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its position in shares of Corpay, Inc. (NYSE:CPAY) by 10.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,611 shares of the company’s stock after selling 181 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Corpay were worth $545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC increased its position in Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock worth $69,000 after purchasing an additional 29 shares in the last quarter. Tealwood Asset Management Inc. increased its position in Corpay by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock worth $1,420,000 after purchasing an additional 30 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Corpay by 22.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock valued at $58,000 after buying an additional 34 shares during the period. Mather Group LLC. grew its holdings in Corpay by 21.2% in the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock valued at $63,000 after buying an additional 35 shares during the period. Finally, Huntington National Bank grew its holdings in Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CPAY. Bank of America lifted their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Citigroup initiated coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Jefferies Financial Group boosted their target price on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays boosted their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $381.43.

Corpay Stock Performance

Corpay stock opened at $379.91 on Tuesday. The stock’s 50 day moving average price is $360.45 and its 200 day moving average price is $330.37. The firm has a market capitalization of $26.48 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay, Inc. has a one year low of $247.10 and a one year high of $385.30.

Corpay (NYSE:CPAY) last announced its earnings results on Thursday, November 7th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.05. Corpay had a return on equity of 39.44% and a net margin of 26.14%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company posted $4.20 EPS. As a group, sell-side analysts expect that Corpay, Inc. will post 17.84 EPS for the current fiscal year.

Insider Buying and Selling at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate 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.