Taikang Asset Management Hong Kong Co Ltd Cuts Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Taikang Asset Management Hong Kong Co Ltd lessened its position in Corpay, Inc. (NYSE:CPAY) by 50.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,600 shares of the company’s stock after selling 5,750 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Corpay were worth $1,895,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its holdings in Corpay by 16.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $69,000 after acquiring an additional 29 shares during the last quarter. Tealwood Asset Management Inc. grew its position in shares of Corpay by 0.7% in the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after purchasing an additional 30 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Corpay by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock valued at $2,018,000 after purchasing an additional 30 shares during the last quarter. IFP Advisors Inc lifted its position in Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock worth $390,000 after buying an additional 30 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in Corpay by 3.5% during the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after buying an additional 32 shares during the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank of Canada raised their target price on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. BMO Capital Markets raised their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods lifted their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Raymond James lowered their price objective on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Performance

Shares of CPAY stock opened at $357.99 on Tuesday. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The firm has a 50 day moving average of $364.61 and a two-hundred day moving average of $350.82. 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 stock has a market capitalization of $25.15 billion, a PE ratio of 25.61, a P/E/G ratio of 1.32 and a beta of 1.25.

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

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction 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 transaction, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.10% of the stock is owned by corporate insiders.

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.