Handelsbanken Fonder AB Acquires 1,127 Shares of Corpay, Inc. (NYSE:CPAY)

Handelsbanken Fonder AB lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,120 shares of the company’s stock after purchasing an additional 1,127 shares during the period. Handelsbanken Fonder AB’s holdings in Corpay were worth $7,147,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Exchange Traded Concepts LLC raised its stake in shares of Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock worth $69,000 after purchasing an additional 29 shares during the period. Tealwood Asset Management Inc. lifted its holdings in Corpay by 0.7% during the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after purchasing an additional 30 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in Corpay by 7.7% during the fourth quarter. Y.D. More Investments Ltd now owns 461 shares of the company’s stock valued at $156,000 after purchasing an additional 33 shares during the last quarter. Custom Index Systems LLC lifted its holdings in Corpay by 2.9% during the fourth quarter. Custom Index Systems LLC now owns 1,367 shares of the company’s stock valued at $463,000 after purchasing an additional 38 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

Shares of CPAY stock opened at $363.66 on Friday. The stock has a fifty day moving average of $362.96 and a 200 day moving average of $342.71. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The firm has a market capitalization of $25.35 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.32 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last announced 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 net margin of 25.25% and a return on equity of 41.46%. As a group, research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. 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. Citigroup initiated coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective on the stock. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. Morgan Stanley upped their price objective on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays upped their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was 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 of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.10% of the company’s stock.

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.