Generate Investment Management Ltd Sells 42,874 Shares of Corpay, Inc. (NYSE:CPAY)

Generate Investment Management Ltd reduced its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 43.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,282 shares of the company’s stock after selling 42,874 shares during the quarter. Corpay makes up about 1.3% of Generate Investment Management Ltd’s holdings, making the stock its 25th largest position. Generate Investment Management Ltd’s holdings in Corpay were worth $18,709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CPAY. Northwestern Mutual Wealth Management Co. raised its stake in Corpay by 16.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,027 shares of the company’s stock valued at $274,000 after acquiring an additional 148 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Corpay during the 2nd quarter valued at approximately $515,000. Park Avenue Securities LLC bought a new position in Corpay in the 3rd quarter worth approximately $454,000. Czech National Bank grew its stake in Corpay by 5.6% in the 3rd quarter. Czech National Bank now owns 14,144 shares of the company’s stock valued at $4,424,000 after buying an additional 753 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Corpay by 52.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,178 shares of the company’s stock valued at $368,000 after acquiring an additional 403 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay 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 transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Corpay Stock Performance

Shares of CPAY stock opened at $389.35 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock has a fifty day moving average of $361.72 and a 200 day moving average of $335.59. The firm has a market capitalization of $27.14 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 1.30 and a beta of 1.28. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81.

Corpay (NYSE:CPAY) last announced 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 26.14% and a return on equity of 39.44%. As a group, research analysts expect that Corpay, Inc. will post 17.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on CPAY. Keefe, Bruyette & Woods lifted their target price on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday. 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 report on Wednesday, January 8th. Jefferies Financial Group upped their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Citigroup initiated coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price on the stock. Finally, Raymond James dropped their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday. Three research 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. Based on data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

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.