GAM Holding AG Invests $1.41 Million in Corpay, Inc. (NYSE:CPAY)

GAM Holding AG acquired a new position in shares of 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 (SEC). The institutional investor acquired 4,177 shares of the company’s stock, valued at approximately $1,414,000.

Other large investors have also added to or reduced their stakes in the company. Avion Wealth lifted its stake in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Corpay by 130.4% during 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 last quarter. Huntington National Bank lifted its stake in shares of Corpay by 43.0% during the 3rd 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 position in Corpay during the third quarter worth about $42,000. Finally, Spire Wealth Management bought a new position in Corpay during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Buying and Selling

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. 6.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

CPAY has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price on the stock. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a report on Wednesday, January 8th. Royal Bank of Canada lifted their price target on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Barclays lifted their target price 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. Finally, Wells Fargo & Company lifted their target price on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Stock Up 2.4 %

CPAY stock opened at $386.46 on Wednesday. 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’s 50 day moving average is $362.42 and its 200 day moving average is $341.09. The stock has a market cap of $26.94 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth 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 issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. Sell-side analysts predict that Corpay, Inc. will post 20.62 EPS for the current fiscal year.

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.