Corpay, Inc. (NYSE:CPAY) Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Corpay, Inc. (NYSE:CPAY) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,852 shares of the company’s stock after purchasing an additional 1,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Corpay were worth $6,718,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CPAY. Creative Planning grew its holdings in Corpay by 26.4% during the 3rd quarter. Creative Planning now owns 6,247 shares of the company’s stock valued at $1,954,000 after purchasing an additional 1,305 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Corpay by 15.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,228 shares of the company’s stock valued at $6,327,000 after purchasing an additional 2,751 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Corpay by 5.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,390 shares of the company’s stock valued at $435,000 after purchasing an additional 70 shares in the last quarter. Signaturefd LLC grew its holdings in Corpay by 22.3% during the 3rd quarter. Signaturefd LLC now owns 252 shares of the company’s stock valued at $79,000 after purchasing an additional 46 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Corpay during the 3rd quarter valued at $40,497,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPAY has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Barclays raised their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. 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 raised their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Royal Bank of Canada raised their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Trading Down 0.8 %

Shares of NYSE:CPAY opened at $361.10 on Tuesday. The company has a market cap of $25.17 billion, a PE ratio of 25.83, a P/E/G ratio of 1.32 and a beta of 1.28. The company’s 50-day moving average price is $363.03 and its 200 day moving average price is $343.75. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. 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 data 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 net margin of 25.25% and a return on equity of 41.46%. Sell-side analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is currently owned by insiders.

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.