Norges Bank Buys Shares of 714,318 Corpay, Inc. (NYSE:CPAY)

Norges Bank bought a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 714,318 shares of the company's stock, valued at approximately $241,739,000. Norges Bank owned approximately 1.02% of Corpay as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of CPAY. Quantbot Technologies LP purchased a new position in Corpay in the third quarter worth about $1,309,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Corpay by 3.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,669 shares of the company's stock worth $3,962,000 after purchasing an additional 429 shares during the period. Fiduciary Trust Co increased its position in shares of Corpay by 46.9% during the 3rd quarter. Fiduciary Trust Co now owns 1,472 shares of the company's stock valued at $460,000 after purchasing an additional 470 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Corpay by 13.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,391 shares of the company's stock valued at $1,061,000 after buying an additional 400 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in Corpay during the 3rd quarter valued at $1,357,000. Institutional investors own 98.84% of the company's stock.

Corpay Stock Down 9.4 %

NYSE CPAY traded down $29.83 on Friday, reaching $287.80. 1,091,078 shares of the stock traded hands, compared to its average volume of 476,964. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The company has a fifty day moving average price of $359.52 and a 200-day moving average price of $352.45. The company has a market cap of $20.22 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.32 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CPAY. Keefe, Bruyette & Woods boosted their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Citigroup initiated coverage on shares of Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price target on the stock. Royal Bank of Canada raised their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Raymond James cut their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. Finally, Wolfe Research raised Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target for the company in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Corpay presently has an average rating of "Moderate Buy" and an average target price of $399.71.

Insider Transactions at Corpay

In related news, Director Richard Macchia sold 2,427 shares of Corpay 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 transaction, the director now directly owns 12,215 shares of the company's stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.10% of the company's stock.

Corpay Company 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.