Handelsbanken Fonder AB Purchases 1,127 Shares of Corpay, Inc. (NYSE:CPAY)

Handelsbanken Fonder AB boosted its position in shares of Corpay, Inc. (NYSE:CPAY) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,120 shares of the company’s stock after acquiring an additional 1,127 shares during the quarter. Handelsbanken Fonder AB’s holdings in Corpay were worth $7,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPAY. Avion Wealth raised its position in Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Versant Capital Management Inc raised its position in Corpay by 130.4% during the fourth 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 increased its holdings in shares of 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 during the last quarter. Quarry LP acquired a new position in shares of Corpay in the third quarter valued at $42,000. Finally, Spire Wealth Management acquired a new position in shares of Corpay in the fourth quarter valued at $42,000. 98.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on CPAY shares. Barclays upped their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Wells Fargo & Company upped their price objective on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Morgan Stanley upped their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods upped their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Raymond James decreased their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Three 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 company. According to data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Insider Buying and Selling at Corpay

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

Corpay Stock Performance

NYSE CPAY opened at $363.66 on Friday. The company has a fifty day simple moving average of $362.96 and a 200 day simple moving average of $342.71. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. 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 company has a market cap of $25.35 billion, a P/E ratio of 26.01, a PEG ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) 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%. Sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.