Swiss National Bank Sells 11,800 Shares of Corpay, Inc. (NYSE:CPAY)

Swiss National Bank trimmed its stake in Corpay, Inc. (NYSE:CPAY) by 6.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,400 shares of the company’s stock after selling 11,800 shares during the period. Swiss National Bank owned 0.27% of Corpay worth $63,081,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its holdings in Corpay by 46.3% during the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after purchasing an additional 58,900 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after buying an additional 2,355 shares in the last quarter. Retireful LLC bought a new position in Corpay in the 3rd quarter worth $702,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Corpay in the 3rd quarter worth $527,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Corpay by 17.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock valued at $8,067,000 after acquiring an additional 3,504 shares during the period. 98.84% of the stock is owned by institutional investors.

Insider Buying and Selling

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 stock was 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 directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CPAY shares. Wells Fargo & Company upped their price objective on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Raymond James cut their price objective 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. BMO Capital Markets boosted their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Keefe, Bruyette & Woods raised their target price on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Trading Up 3.0 %

Shares of CPAY stock opened at $338.14 on Friday. The company has a market cap of $23.75 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The stock’s 50 day simple moving average is $364.64 and its two-hundred day simple moving average is $348.86. 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 (NYSE:CPAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share 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%. Research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.