Forsta AP Fonden Purchases 400 Shares of Corpay, Inc. (NYSE:CPAY)

Forsta AP Fonden raised its position in shares of Corpay, Inc. (NYSE:CPAY) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,900 shares of the company’s stock after acquiring an additional 400 shares during the period. Forsta AP Fonden’s holdings in Corpay were worth $4,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPAY. Albion Financial Group UT acquired a new position in shares of Corpay during the 3rd quarter worth about $27,000. Versant Capital Management Inc increased its position in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after buying an additional 60 shares during the period. Huntington National Bank lifted its holdings in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after buying an additional 40 shares during the last quarter. Quarry LP bought a new stake in shares of Corpay in the third quarter valued at approximately $42,000. Finally, Continuum Advisory LLC grew its stake in shares of Corpay by 47.9% in the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock worth $44,000 after acquiring an additional 46 shares during the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Down 1.8 %

Shares of NYSE:CPAY opened at $380.55 on Friday. The company’s fifty day moving average is $361.45 and its 200-day moving average is $332.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $391.10. The company has a market capitalization of $26.53 billion, a PE ratio of 27.14, a P/E/G ratio of 1.30 and a beta of 1.26.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Thursday, November 7th. The company reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.05. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Corpay had a net margin of 26.14% and a return on equity of 39.44%. During the same period in the prior year, the firm earned $4.20 earnings per share. Equities research analysts predict that Corpay, Inc. will post 17.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Barclays lifted their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Bank of America upped their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods decreased their price objective on Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company upped their target price on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average target price of $381.43.

Insider Buying and Selling

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the sale, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate 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.