BI Asset Management Fondsmaeglerselskab A S Acquires 3,800 Shares of Corpay, Inc. (NYSE:CPAY)

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 368.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,830 shares of the company's stock after purchasing an additional 3,800 shares during the period. 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 also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new position in Corpay in the third quarter worth approximately $364,000. Tidal Investments LLC grew its holdings in shares of Corpay by 1.5% in the 3rd quarter. Tidal Investments LLC now owns 4,641 shares of the company's stock worth $1,452,000 after acquiring an additional 68 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in shares of Corpay by 0.3% during the third quarter. Peapack Gladstone Financial Corp now owns 40,416 shares of the company's stock worth $12,640,000 after purchasing an additional 113 shares during the period. American Trust purchased a new stake in shares of Corpay during the third quarter valued at $719,000. Finally, Principal Financial Group Inc. boosted its position in shares of Corpay by 2.6% in the 3rd quarter. Principal Financial Group Inc. now owns 86,539 shares of the company's stock valued at $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.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CPAY. Barclays decreased their price objective on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Morgan Stanley lifted their target price on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Raymond James cut their price target on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada lifted their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upped their target price on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $397.62.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company'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 sale, the director now directly owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.10% of the company's stock.

Corpay Stock Performance

CPAY stock traded up $0.50 during midday trading on Friday, hitting $322.39. The stock had a trading volume of 207,676 shares, compared to its average volume of 482,135. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock has a 50-day simple moving average of $334.94 and a 200 day simple moving average of $351.20. The firm has a market capitalization of $22.65 billion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results 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%. As a group, equities research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.