Corpay, Inc. (NYSE:CPAY) Shares Bought by Forsta AP Fonden

Forsta AP Fonden lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,900 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Forsta AP Fonden’s holdings in Corpay were worth $4,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in Corpay by 46.3% in the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after acquiring an additional 58,900 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake 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 purchasing an additional 2,355 shares during the last quarter. Retireful LLC bought a new stake in Corpay during the third quarter worth approximately $702,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Corpay in the third quarter worth approximately $527,000. Finally, Banco Santander S.A. bought a new position in shares of Corpay in the third quarter valued at $668,000. Institutional investors own 98.84% of the company’s stock.

Insider Activity at Corpay

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

Corpay Price Performance

Shares of NYSE:CPAY opened at $380.55 on Friday. The firm has a market cap of $26.53 billion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 1.30 and a beta of 1.26. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $391.10. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The business has a fifty day simple moving average of $361.45 and a 200 day simple moving average of $332.45.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.05. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Corpay had a return on equity of 39.44% and a net margin of 26.14%. During the same period last year, the business earned $4.20 EPS. As a group, sell-side analysts predict that Corpay, Inc. will post 17.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CPAY. Keefe, Bruyette & Woods decreased their target price on Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group boosted their price objective on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Bank of America boosted their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Three research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $381.43.

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.