Corpay, Inc. (NYSE:CPAY) Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 368.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,830 shares of the company's stock after buying an additional 3,800 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Corpay were worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Corpay in the third quarter valued at approximately $364,000. Tidal Investments LLC raised its stake in shares of Corpay by 1.5% in the third quarter. Tidal Investments LLC now owns 4,641 shares of the company's stock valued at $1,452,000 after acquiring an additional 68 shares in the last quarter. Peapack Gladstone Financial Corp boosted its holdings in Corpay by 0.3% in the third quarter. Peapack Gladstone Financial Corp now owns 40,416 shares of the company's stock valued at $12,640,000 after purchasing an additional 113 shares during the period. American Trust acquired a new position in Corpay during the 3rd quarter worth $719,000. Finally, Principal Financial Group Inc. increased its holdings in Corpay by 2.6% during the 3rd quarter. Principal Financial Group Inc. now owns 86,539 shares of the company's stock worth $27,066,000 after purchasing an additional 2,175 shares during the period. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Performance

CPAY stock traded down $1.07 during trading on Monday, hitting $320.96. The company had a trading volume of 65,793 shares, compared to its average volume of 481,380. The firm has a 50-day moving average price of $334.94 and a 200-day moving average price of $351.42. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The firm has a market cap of $22.55 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research note on Thursday. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Morgan Stanley boosted their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Raymond James decreased their price target on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. Finally, Citigroup initiated coverage on Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price objective on the stock. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $397.62.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

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.