Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,591 Shares of Corpay, Inc. (NYSE:CPAY)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Corpay, Inc. (NYSE:CPAY) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,260 shares of the company’s stock after purchasing an additional 1,591 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Corpay were worth $4,826,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Avion Wealth boosted its holdings in Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 60 shares during the period. Huntington National Bank grew 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 period. Quarry LP bought a new stake in Corpay in the third quarter valued at approximately $42,000. Finally, Spire Wealth Management bought a new stake in Corpay in the fourth quarter valued at approximately $42,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.10% of the company’s stock.

Corpay Stock Up 3.0 %

Corpay stock opened at $338.14 on Friday. The company has a fifty day simple moving average of $364.64 and a 200 day simple moving average of $348.54. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The company has a market cap of $23.75 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (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%. Research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Raymond James decreased their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. Wells Fargo & Company lifted their price objective on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. BMO Capital Markets boosted their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Royal Bank of Canada raised their target price 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. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Corpay has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay 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.