KBC Group NV Raises Stake in Corpay, Inc. (NYSE:CPAY)

KBC Group NV raised its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 15.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,393 shares of the company's stock after acquiring an additional 1,951 shares during the period. KBC Group NV's holdings in Corpay were worth $4,870,000 at the end of the most recent quarter.

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

Corpay Trading Down 0.2 %

Corpay stock traded down $0.80 during trading hours on Monday, reaching $379.69. 350,966 shares of the company's stock were exchanged, compared to its average volume of 420,728. The firm has a market capitalization of $26.47 billion, a PE ratio of 27.08, a PEG ratio of 1.30 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm's 50 day simple moving average is $361.47 and its 200 day simple moving average is $333.61. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $391.10.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $4.72 earnings per share for the quarter, topping analysts' consensus estimates of $4.67 by $0.05. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Corpay had a return on equity of 39.44% and a net margin of 26.14%. During the same period in the previous year, the company posted $4.20 earnings per share. Research analysts predict that Corpay, Inc. will post 17.84 earnings per share for the current year.

Insider Buying and Selling

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the company'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 sale, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Bank of America boosted their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Citigroup started coverage on Corpay in a research report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price objective on the stock. Finally, Morgan Stanley increased their target price on Corpay from $325.00 to $350.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $381.43.

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.