Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Corpay, Inc. (NYSE:CPAY)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Corpay, Inc. (NYSE:CPAY) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,065 shares of the company’s stock after buying an additional 188 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Corpay were worth $2,729,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares in the last quarter. Huntington National Bank boosted its holdings in Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares in the last quarter. Quarry LP purchased a new position in Corpay in the third quarter valued at approximately $42,000. Spire Wealth Management acquired a new stake in Corpay during the fourth quarter worth approximately $42,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Corpay during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Price Performance

Shares of NYSE CPAY opened at $375.53 on Monday. The company’s fifty day moving average is $361.61 and its two-hundred day moving average is $336.51. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The firm has a market capitalization of $26.18 billion, a P/E ratio of 26.86, a PEG ratio of 1.33 and a beta of 1.28. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81.

Corpay (NYSE:CPAY) last released 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%. Analysts forecast that Corpay, Inc. will post 20.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a report on Wednesday, January 8th. Citigroup started coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Raymond James reduced 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. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $399.71.

Insider Activity at Corpay

In other news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents 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 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.