Kentucky Retirement Systems Sells 66 Shares of Corpay, Inc. (NYSE:CPAY)

Kentucky Retirement Systems trimmed its position in shares of Corpay, Inc. (NYSE:CPAY) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,771 shares of the company’s stock after selling 66 shares during the quarter. Kentucky Retirement Systems’ holdings in Corpay were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Swedbank AB grew its position in Corpay by 46.3% in the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after purchasing an additional 58,900 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after acquiring an additional 2,355 shares in the last quarter. Retireful LLC bought a new position in shares of Corpay in the third quarter valued at approximately $702,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Corpay during the third quarter valued at approximately $527,000. Finally, Banco Santander S.A. bought a new stake in Corpay during the third quarter worth $668,000. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Down 1.4 %

CPAY opened at $363.66 on Monday. The company has a fifty day moving average price of $362.96 and a 200-day moving average price of $343.22. The firm has a market capitalization of $25.35 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. Equities research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CPAY. 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 report on Wednesday, January 8th. Keefe, Bruyette & Woods lifted their price target on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Royal Bank of Canada lifted their price target on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Morgan Stanley raised their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Three equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction 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 sale, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.10% of the stock is owned by company insiders.

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.