National Pension Service Sells 14,500 Shares of Corpay, Inc. (NYSE:CPAY)

National Pension Service cut its stake in Corpay, Inc. (NYSE:CPAY) by 13.2% in the fourth quarter, HoldingsChannel reports. The fund owned 94,942 shares of the company’s stock after selling 14,500 shares during the period. National Pension Service’s holdings in Corpay were worth $32,130,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Gibraltar Capital Management Inc. raised its stake in shares of Corpay by 1.6% in the fourth quarter. Gibraltar Capital Management Inc. now owns 19,954 shares of the company’s stock worth $6,753,000 after acquiring an additional 323 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in shares of Corpay by 3.5% during the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after buying an additional 32 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock worth $390,000 after buying an additional 30 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Corpay during the fourth quarter worth approximately $3,049,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Corpay during the fourth quarter worth approximately $1,050,000. 98.84% of the stock is owned by institutional investors.

Corpay Stock Up 0.7 %

Corpay stock opened at $366.99 on Friday. The stock has a market capitalization of $25.58 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The company has a 50 day moving average of $365.02 and a 200-day moving average of $345.30.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing the consensus estimate 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 research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley boosted their price target on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Citigroup began coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Finally, Wells Fargo & Company boosted 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. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

About Corpay

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.