Mirae Asset Global Investments Co. Ltd. Has $2.15 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Mirae Asset Global Investments Co. Ltd. grew its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 37.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,292 shares of the company's stock after acquiring an additional 1,712 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Corpay were worth $2,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB lifted its holdings in shares of Corpay by 46.3% in the 3rd quarter. Swedbank AB now owns 186,117 shares of the company's stock worth $58,210,000 after purchasing an additional 58,900 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company's stock valued at $1,842,000 after buying an additional 2,355 shares during the last quarter. Retireful LLC bought a new stake in Corpay in the third quarter valued at $702,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Corpay during the third quarter valued at $527,000. Finally, Banco Santander S.A. bought a new position in shares of Corpay during the third quarter worth about $668,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Down 1.7 %

Shares of NYSE CPAY traded down $6.56 during mid-day trading on Tuesday, reaching $368.59. The company had a trading volume of 146,418 shares, compared to its average volume of 451,286. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The stock's 50 day moving average is $361.45 and its 200-day moving average is $337.49. The stock has a market capitalization of $25.69 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY - Get Free Report) last posted 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%. As a group, equities analysts anticipate that Corpay, Inc. will post 20.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CPAY has been the subject of several analyst reports. Jefferies Financial Group boosted their price objective on Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. BMO Capital Markets boosted their price target on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Barclays raised their price target on Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Wells Fargo & Company upped their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada raised their target price 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. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Corpay has a consensus rating of "Moderate Buy" and an average target price of $399.71.

Insider Activity at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the transaction, the director now owns 10,530 shares of the company's stock, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 approximately $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,402 shares of company stock valued at $4,987,164. Insiders own 6.10% of the company's stock.

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.