Corpay, Inc. (NYSE:CPAY) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Corpay, Inc. (NYSE:CPAY) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 8,065 shares of the company’s stock after acquiring an additional 188 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Corpay were worth $2,729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPAY. Swedbank AB boosted its holdings in shares of Corpay by 46.3% during the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after purchasing an additional 58,900 shares during 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 worth $1,842,000 after buying an additional 2,355 shares during the period. Retireful LLC acquired a new stake in Corpay in the 3rd quarter worth about $702,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Corpay in the 3rd quarter valued at about $527,000. Finally, Banco Santander S.A. purchased a new position in shares of Corpay during the 3rd quarter worth about $668,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Trading Down 3.6 %

Shares of Corpay stock opened at $375.53 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The business has a fifty day simple moving average of $361.61 and a 200-day simple moving average of $336.51. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a market cap of $26.18 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 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 analysts forecast that Corpay, Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CPAY. Royal Bank of Canada boosted their target price on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday. Bank of America boosted their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company increased their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Barclays boosted their price target on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Wolfe Research raised 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. Three equities research 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $399.71.

Insider Transactions at Corpay

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