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

Asset Management One Co. Ltd. trimmed its stake in shares of Corpay, Inc. (NYSE:CPAY) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,529 shares of the company’s stock after selling 437 shares during the period. Asset Management One Co. Ltd.’s holdings in Corpay were worth $9,052,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Avion Wealth grew its stake in shares of Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after buying an additional 91 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Corpay by 17.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after acquiring an additional 3,504 shares during the last quarter. Compound Global Advisors LLC bought a new stake in shares of Corpay in the 4th quarter worth about $774,000. 17 Capital Partners LLC lifted its holdings in shares of Corpay by 21.5% in the 4th quarter. 17 Capital Partners LLC now owns 2,652 shares of the company’s stock worth $897,000 after acquiring an additional 470 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Corpay by 453.9% in the 4th quarter. Empowered Funds LLC now owns 6,259 shares of the company’s stock worth $2,118,000 after acquiring an additional 5,129 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Up 2.4 %

Shares of Corpay stock opened at $377.25 on Tuesday. The firm’s 50 day moving average price is $361.83 and its 200-day moving average price is $340.30. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a market cap of $26.30 billion, a P/E ratio of 26.98, a PEG ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY) last released 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 return on equity of 41.46% and a net margin of 25.25%. On average, sell-side analysts predict that Corpay, Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada lifted their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Raymond James decreased their price objective on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. BMO Capital Markets lifted their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company lifted 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. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $399.71.

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.