Swiss National Bank Decreases Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Swiss National Bank cut its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 186,400 shares of the company's stock after selling 11,800 shares during the quarter. Swiss National Bank owned approximately 0.27% of Corpay worth $63,081,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in Corpay by 16.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 204 shares of the company's stock worth $69,000 after purchasing an additional 29 shares in the last quarter. Tealwood Asset Management Inc. raised its holdings in Corpay by 0.7% in the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company's stock worth $1,420,000 after purchasing an additional 30 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Corpay by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company's stock worth $2,018,000 after purchasing an additional 30 shares in the last quarter. IFP Advisors Inc raised its holdings in Corpay by 2.7% in the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company's stock worth $390,000 after purchasing an additional 30 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in Corpay by 3.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company's stock worth $318,000 after purchasing an additional 32 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

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 sale, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 6.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on CPAY. Royal Bank of Canada boosted their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. 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. Morgan Stanley upped their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Wells Fargo & Company upped their price objective on shares of Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Finally, BMO Capital Markets upped their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Three research 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's stock. According to MarketBeat.com, Corpay presently has a consensus rating of "Moderate Buy" and a consensus price target of $399.71.

Corpay Stock Performance

NYSE CPAY traded up $5.36 during trading hours on Wednesday, reaching $352.52. The stock had a trading volume of 333,933 shares, compared to its average volume of 486,415. The stock has a fifty day moving average of $364.75 and a 200 day moving average of $349.66. The stock has a market cap of $24.76 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 52-week low of $247.10 and a 52-week 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.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data 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%. Sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share 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.