Corpay, Inc. (NYSE:CPAY) Shares Sold by Tredje AP fonden

Tredje AP fonden cut its stake in Corpay, Inc. (NYSE:CPAY) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,765 shares of the company’s stock after selling 5,765 shares during the period. Tredje AP fonden’s holdings in Corpay were worth $1,951,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Janney Montgomery Scott LLC lifted its position in Corpay by 4.0% during the third quarter. Janney Montgomery Scott LLC now owns 2,863 shares of the company’s stock valued at $895,000 after buying an additional 111 shares in the last quarter. Apollon Wealth Management LLC lifted its position in Corpay by 4.3% during the third quarter. Apollon Wealth Management LLC now owns 1,385 shares of the company’s stock valued at $433,000 after buying an additional 57 shares in the last quarter. Victory Capital Management Inc. lifted its position in Corpay by 0.9% during the third quarter. Victory Capital Management Inc. now owns 154,698 shares of the company’s stock valued at $48,383,000 after buying an additional 1,339 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Corpay by 66.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after buying an additional 2,355 shares in the last quarter. Finally, 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 valued at $42,000 after buying an additional 40 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CPAY. Morgan Stanley lifted their price target on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Citigroup began coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective on the stock. 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. BMO Capital Markets lifted their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company lifted their price objective on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Up 3.0 %

Shares of NYSE:CPAY opened at $338.14 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The company has a fifty day simple moving average of $364.64 and a 200 day simple moving average of $348.54. The firm has a market cap of $23.75 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81.

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

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares of the company’s stock, valued at $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 SEC, which is available through this link. 6.10% of the stock is currently owned by corporate insiders.

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.