Korea Investment CORP Buys 33,683 Shares of Corpay, Inc. (NYSE:CPAY)

Korea Investment CORP grew its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 79.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,861 shares of the company's stock after purchasing an additional 33,683 shares during the quarter. Korea Investment CORP owned approximately 0.11% of Corpay worth $25,673,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Avion Wealth lifted its stake in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company's stock valued at $36,000 after acquiring an additional 60 shares during the last quarter. Quarry LP bought a new stake in shares of Corpay in the 3rd quarter valued at about $42,000. Spire Wealth Management purchased a new stake in Corpay during the 4th quarter valued at about $42,000. Finally, Assetmark Inc. grew its position in Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after acquiring an additional 60 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CPAY has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their target price on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Raymond James decreased their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. BMO Capital Markets lifted their price target on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Finally, Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective for the company in a report on Wednesday, January 8th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $399.71.

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Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.10% of the stock is currently owned by insiders.

Corpay Stock Up 0.6 %

Shares of CPAY stock traded up $1.99 during trading hours on Monday, hitting $348.68. 818,776 shares of the company's stock traded hands, compared to its average volume of 474,939. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock's fifty day simple moving average is $363.75 and its two-hundred day simple moving average is $352.17. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The stock has a market cap of $24.49 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY - Get Free Report) last released its 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, analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

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.