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

Tredje AP fonden decreased its stake in Corpay, Inc. (NYSE:CPAY) by 50.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Swedbank AB boosted its stake in Corpay by 46.3% during the 3rd 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 period. Oppenheimer Asset Management Inc. boosted its stake in Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after purchasing an additional 2,355 shares during the period. Retireful LLC acquired a new stake in Corpay during the 3rd quarter worth $702,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corpay during the 3rd quarter worth $527,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Corpay by 17.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after purchasing an additional 3,504 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of recent research reports. BMO Capital Markets increased their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Citigroup initiated coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Raymond James cut their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Morgan Stanley upped their price objective on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upped 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, February 6th. Three equities 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 data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Stock Performance

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 firm has a 50-day moving average price of $364.64 and a two-hundred day moving average price of $348.54. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The company has a market capitalization of $23.75 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

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

About Corpay

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.