Harvest Fund Management Co. Ltd Takes $176,000 Position in Corpay, Inc. (NYSE:CPAY)

Harvest Fund Management Co. Ltd purchased a new stake in Corpay, Inc. (NYSE:CPAY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 521 shares of the company’s stock, valued at approximately $176,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Avion Wealth grew its holdings in shares of Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after buying an additional 91 shares during the period. Versant Capital Management Inc lifted its position in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 60 shares in the last quarter. Spire Wealth Management bought a new stake in Corpay in the 4th quarter valued at $42,000. Assetmark Inc. lifted its position in Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock valued at $42,000 after acquiring an additional 60 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Corpay by 70.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company’s stock valued at $45,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” 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 company an “outperform” rating in a research report on Friday, December 13th. Royal Bank of Canada boosted their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Morgan Stanley boosted their price objective 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. Finally, Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Corpay Stock Performance

Shares of Corpay stock opened at $347.12 on Friday. The company has a 50 day moving average of $364.50 and a 200-day moving average of $350.17. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The company has a market cap of $24.38 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. As a group, equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were 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 of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is owned by insiders.

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.