Sumitomo Mitsui Trust Group Inc. Buys 10,579 Shares of Corpay, Inc. (NYSE:CPAY)

Sumitomo Mitsui Trust Group Inc. grew its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 160,441 shares of the company's stock after acquiring an additional 10,579 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Corpay worth $54,296,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company's stock valued at $36,000 after purchasing an additional 60 shares in the last quarter. Spire Wealth Management bought a new position in Corpay in the 4th quarter valued at approximately $42,000. Huntington National Bank raised its holdings in Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company's stock valued at $42,000 after buying an additional 40 shares during the last quarter. Quarry LP acquired a new stake in Corpay during the 3rd quarter worth approximately $42,000. Finally, Synergy Asset Management LLC bought a new stake in Corpay during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Activity

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Macchia sold 2,427 shares of Corpay 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. This represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,402 shares of company stock worth $4,987,164 over the last three months. 6.10% of the stock is currently owned by insiders.

Corpay Stock Down 1.6 %

NYSE:CPAY traded down $6.04 on Tuesday, hitting $369.11. The stock had a trading volume of 448,807 shares, compared to its average volume of 461,756. The company has a quick ratio of 1.05, a current ratio of 1.00 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 business's fifty day moving average is $361.45 and its 200 day moving average is $337.49. The company has a market cap of $25.73 billion, a PE ratio of 26.40, a P/E/G ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY - Get Free Report) last issued its 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%. On average, equities research analysts expect that Corpay, Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target on the stock in a report on Wednesday, January 8th. Bank of America lifted their target price on Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Barclays upped their price target on Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Raymond James lowered their price objective on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Finally, BMO Capital Markets upped their target price on Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Friday, December 13th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $399.71.

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.