KLP Kapitalforvaltning AS Purchases Shares of 45,908 Corpay, Inc. (NYSE:CPAY)

KLP Kapitalforvaltning AS acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 45,908 shares of the company's stock, valued at approximately $15,536,000. KLP Kapitalforvaltning AS owned about 0.07% of Corpay as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. raised its stake in shares of Corpay by 8.0% in the fourth quarter. Sei Investments Co. now owns 52,150 shares of the company's stock valued at $17,649,000 after acquiring an additional 3,882 shares during the period. American Century Companies Inc. grew its holdings in Corpay by 10.7% during the 4th quarter. American Century Companies Inc. now owns 458,868 shares of the company's stock valued at $155,290,000 after purchasing an additional 44,190 shares during the last quarter. Mizuho Securities USA LLC raised its position in Corpay by 46.8% in the 4th quarter. Mizuho Securities USA LLC now owns 6,607 shares of the company's stock worth $2,236,000 after purchasing an additional 2,105 shares during the period. Virtu Financial LLC bought a new stake in Corpay in the fourth quarter worth about $625,000. Finally, Quantbot Technologies LP boosted its position in shares of Corpay by 152.0% during the fourth quarter. Quantbot Technologies LP now owns 10,546 shares of the company's stock valued at $3,569,000 after buying an additional 6,361 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the transaction, the director now directly owns 12,215 shares in the company, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.10% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

CPAY has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their price target on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Wells Fargo & Company upped their price target 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. Royal Bank of Canada boosted their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Finally, Morgan Stanley lifted their price target 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. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Corpay has a consensus rating of "Moderate Buy" and an average target price of $399.71.

Corpay Stock Down 2.4 %

Shares of NYSE:CPAY traded down $8.45 on Friday, reaching $346.79. The company had a trading volume of 265,540 shares, compared to its average volume of 473,564. The firm has a market capitalization of $24.36 billion, a PE ratio of 24.81, a PEG ratio of 1.32 and a beta of 1.25. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The firm's 50 day simple moving average is $363.75 and its 200-day simple moving average is $351.56.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) 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, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.