Resona Asset Management Co. Ltd. Acquires Shares of 19,813 Corpay, Inc. (NYSE:CPAY)

Resona Asset Management Co. Ltd. bought a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 19,813 shares of the company's stock, valued at approximately $6,713,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centiva Capital LP acquired a new position in shares of Corpay in the third quarter worth $334,000. Hilltop Holdings Inc. purchased a new stake in Corpay during the 3rd quarter worth about $206,000. HighTower Advisors LLC raised its stake in Corpay by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 22,983 shares of the company's stock valued at $7,179,000 after purchasing an additional 217 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Corpay by 14.8% in the 3rd quarter. Janus Henderson Group PLC now owns 7,861 shares of the company's stock valued at $2,460,000 after purchasing an additional 1,014 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Corpay during the 3rd quarter worth about $5,606,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was 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 owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

Corpay Trading Up 1.7 %

CPAY traded up $5.22 on Friday, reaching $304.96. 457,902 shares of the company's stock were exchanged, compared to its average volume of 484,000. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The company's 50 day moving average is $348.19 and its 200-day moving average is $352.36. 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 market cap of $21.42 billion, a price-to-earnings ratio of 21.81, 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 (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%. Equities analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CPAY. Raymond James cut their price objective on shares of Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price target on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Citigroup initiated coverage on Corpay in a report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price objective on the stock. Morgan Stanley lifted their price objective on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $401.54.

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.