Pictet Asset Management Holding SA Has $10.14 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Pictet Asset Management Holding SA cut its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,964 shares of the company's stock after selling 1,111 shares during the period. Pictet Asset Management Holding SA's holdings in Corpay were worth $10,140,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Corpay by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock valued at $2,623,702,000 after buying an additional 120,688 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock valued at $1,653,659,000 after acquiring an additional 120,578 shares during the last quarter. Boston Partners grew its position in shares of Corpay by 6.4% in the 4th quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after acquiring an additional 122,380 shares during the period. Geode Capital Management LLC increased its stake in shares of Corpay by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company's stock worth $523,061,000 after purchasing an additional 23,275 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Corpay during the 4th quarter worth about $241,739,000. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Raymond James reduced their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Morgan Stanley boosted their target price on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Citigroup assumed coverage on Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Corpay has an average rating of "Moderate Buy" and a consensus price target of $401.54.

Corpay Stock Performance

NYSE CPAY traded down $0.48 during trading on Monday, reaching $288.09. The company's stock had a trading volume of 933,596 shares, compared to its average volume of 479,722. The firm has a 50 day moving average price of $357.68 and a 200 day moving average price of $352.91. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The firm has a market capitalization of $20.24 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. 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 (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, equities analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Transactions at Corpay

In other 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 approximately $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 can be accessed through this hyperlink. 6.10% of the stock is currently owned by insiders.

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.