Sumitomo Mitsui Trust Group Inc. Purchases 10,579 Shares of Corpay, Inc. (NYSE:CPAY)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,441 shares of the company’s stock after acquiring an additional 10,579 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Corpay worth $54,296,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CPAY. JPMorgan Chase & Co. raised its position in Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares during the period. FMR LLC grew its stake in shares of Corpay by 3.0% during the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after buying an additional 78,880 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Corpay by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after buying an additional 23,275 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Corpay by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock valued at $143,393,000 after acquiring an additional 1,749 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in Corpay by 2.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock valued at $111,779,000 after acquiring an additional 8,378 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CPAY shares. Bank of America boosted their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a report on Wednesday, January 8th. Royal Bank of Canada raised their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Barclays increased their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company boosted their price target on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. 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 data from MarketBeat, Corpay has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Corpay Stock Down 0.2 %

NYSE:CPAY opened at $375.06 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The firm’s 50-day moving average price is $361.61 and its 200-day moving average price is $336.86. The company has a market capitalization of $26.15 billion, a PE ratio of 26.83, a P/E/G ratio of 1.33 and a beta of 1.28. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81.

Corpay (NYSE:CPAY) last announced its quarterly earnings data 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%. On average, equities analysts predict that Corpay, Inc. will post 20.62 EPS for the current fiscal year.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,402 shares of company stock valued at $4,987,164 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

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.