Corpay, Inc. (NYSE:CPAY) Shares Sold by Generate Investment Management Ltd

Generate Investment Management Ltd decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 43.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,282 shares of the company's stock after selling 42,874 shares during the quarter. Corpay accounts for about 1.3% of Generate Investment Management Ltd's investment portfolio, making the stock its 25th biggest position. Generate Investment Management Ltd owned 0.08% of Corpay worth $18,709,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CPAY. Exchange Traded Concepts LLC raised its position in Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company's stock valued at $69,000 after purchasing an additional 29 shares in the last quarter. Tealwood Asset Management Inc. grew its holdings in Corpay by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company's stock worth $1,420,000 after acquiring an additional 30 shares in the last quarter. Y.D. More Investments Ltd increased its position in Corpay by 7.7% during the 4th quarter. Y.D. More Investments Ltd now owns 461 shares of the company's stock valued at $156,000 after purchasing an additional 33 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Corpay by 22.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company's stock worth $58,000 after purchasing an additional 34 shares during the period. Finally, Mather Group LLC. increased its holdings in Corpay by 21.2% during the third quarter. Mather Group LLC. now owns 200 shares of the company's stock valued at $63,000 after buying an additional 35 shares during the period. Institutional investors own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on 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 report on Thursday, February 6th. Citigroup started coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price target on the stock. Wells Fargo & Company increased their target price on shares of Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Wolfe Research raised shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target on the stock in a report on Wednesday, January 8th. Finally, Jefferies Financial Group increased their price objective on Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Corpay currently has an average rating of "Moderate Buy" and an average target price of $399.71.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the sale, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,402 shares of company stock valued at $4,987,164. 6.10% of the stock is currently owned by insiders.

Corpay Price Performance

CPAY stock traded down $6.73 during mid-day trading on Tuesday, reaching $368.42. 228,056 shares of the company's stock were exchanged, compared to its average volume of 454,153. The company has a market cap of $25.68 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28. Corpay, Inc. has a 12-month low of $247.10 and a 12-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 company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. On average, research analysts expect that Corpay, Inc. will post 20.62 EPS for the current year.

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.