Principal Securities Inc. Purchases 88 Shares of Corpay, Inc. (NYSE:CPAY)

Principal Securities Inc. increased its position in shares of Corpay, Inc. (NYSE:CPAY) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 962 shares of the company’s stock after purchasing an additional 88 shares during the quarter. Principal Securities Inc.’s holdings in Corpay were worth $326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CPAY. Avion Wealth lifted its position in 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 period. Versant Capital Management Inc lifted its position in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 60 shares during the period. Huntington National Bank lifted its position in Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after purchasing an additional 40 shares during the period. Quarry LP bought a new stake in Corpay during the third quarter worth about $42,000. Finally, Spire Wealth Management bought a new stake in Corpay during the fourth quarter worth about $42,000. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CPAY shares. Royal Bank of Canada upped their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Raymond James dropped their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Morgan Stanley increased their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Barclays increased their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company increased their target price on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Corpay has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Stock Performance

Corpay stock opened at $363.66 on Friday. The business has a 50 day moving average of $362.96 and a 200-day moving average of $342.71. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The company has a market capitalization of $25.35 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the sale, the director now owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.10% of the company’s stock.

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.