Assetmark Inc. Has $42,000 Position in Corpay, Inc. (NYSE:CPAY)

Assetmark Inc. increased its position in Corpay, Inc. (NYSE:CPAY) by 93.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124 shares of the company’s stock after acquiring an additional 60 shares during the quarter. Assetmark Inc.’s holdings in Corpay were worth $42,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares during the last quarter. Prana Capital Management LP acquired a new stake in shares of Corpay during the 3rd quarter worth approximately $31,541,000. Proficio Capital Partners LLC bought a new stake in shares of Corpay during the fourth quarter valued at approximately $28,632,000. Swedbank AB raised its stake in shares of Corpay by 44.9% in the fourth quarter. Swedbank AB now owns 269,717 shares of the company’s stock valued at $91,278,000 after purchasing an additional 83,600 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after purchasing an additional 78,880 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Up 3.0 %

Shares of Corpay stock opened at $338.14 on Friday. 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 12 month low of $247.10 and a 12 month high of $400.81. The business has a fifty day simple moving average of $364.64 and a 200 day simple moving average of $348.86. The stock has a market cap of $23.75 billion, a PE 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 (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%. Research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Raymond James dropped their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company raised their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Royal Bank of Canada upped their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Finally, Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and an average target price of $399.71.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was 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 directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Corpay 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.