Resona Asset Management Co. Ltd. Acquires Shares of 19,813 Corpay, Inc. (NYSE:CPAY)

Resona Asset Management Co. Ltd. bought a new stake in Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 19,813 shares of the company’s stock, valued at approximately $6,713,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Huntington National Bank boosted its stake in Corpay by 94.7% in the fourth quarter. Huntington National Bank now owns 259 shares of the company’s stock valued at $88,000 after buying an additional 126 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Corpay in the 4th quarter valued at approximately $749,000. Geode Capital Management LLC grew its holdings in shares of Corpay by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company’s stock valued at $584,962,000 after purchasing an additional 54,894 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Corpay by 11,038.9% during the 4th quarter. National Bank of Canada FI now owns 32,637 shares of the company’s stock valued at $11,045,000 after purchasing an additional 32,344 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in Corpay by 25.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,900 shares of the company’s stock worth $981,000 after purchasing an additional 593 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

CPAY has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup assumed coverage on Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. Royal Bank of Canada lifted their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Finally, Raymond James lowered their price objective on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $401.54.

Corpay Trading Down 0.2 %

CPAY opened at $288.09 on Tuesday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The company has a fifty day moving average of $357.68 and a 200-day moving average of $352.91. The stock has a market cap of $20.24 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. 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 (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts’ consensus estimates 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 19.76 EPS for the current year.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

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.