Taikang Asset Management Hong Kong Co Ltd Cuts Position in Corpay, Inc. (NYSE:CPAY)

Taikang Asset Management Hong Kong Co Ltd decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 50.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,600 shares of the company's stock after selling 5,750 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd's holdings in Corpay were worth $1,895,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CPAY. Avion Wealth grew its stake in Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after buying an additional 91 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after acquiring an additional 60 shares during the last quarter. Quarry LP bought a new stake in shares of Corpay during the 3rd quarter worth $42,000. Spire Wealth Management purchased a new position in Corpay in the fourth quarter worth $42,000. Finally, Assetmark Inc. increased its stake in Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after acquiring an additional 60 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Corpay Trading Down 2.4 %

CPAY traded down $8.47 during midday trading on Friday, reaching $346.77. 90,157 shares of the company's stock traded hands, compared to its average volume of 472,343. 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 current ratio of 1.00 and a quick ratio of 1.05. The firm has a fifty day moving average of $364.23 and a two-hundred day moving average of $351.29. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 1.32 and a beta of 1.25.

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Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CPAY has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price target on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Raymond James dropped their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Morgan Stanley increased their price target on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. BMO Capital Markets boosted their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Wells Fargo & Company increased their target price 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. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Corpay has an average rating of "Moderate Buy" and an average target price of $399.71.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the firm'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 trade represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.10% of the company's stock.

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.