Swiss National Bank Lowers Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Swiss National Bank cut its stake in shares of Corpay, Inc. (NYSE:CPAY) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 186,400 shares of the company’s stock after selling 11,800 shares during the quarter. Swiss National Bank’s holdings in Corpay were worth $63,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its holdings in Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock worth $69,000 after purchasing an additional 29 shares during the period. Tealwood Asset Management Inc. grew its position in shares of Corpay by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock worth $1,420,000 after buying an additional 30 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Corpay by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock valued at $2,018,000 after buying an additional 30 shares during the period. IFP Advisors Inc raised its holdings in shares of Corpay by 2.7% in the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock valued at $390,000 after acquiring an additional 30 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in Corpay by 3.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after acquiring an additional 32 shares during the period. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CPAY. BMO Capital Markets raised their target price on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research note on Wednesday, January 8th. Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, Raymond James dropped their price objective on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Three investment 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Corpay Stock Up 3.0 %

CPAY stock opened at $338.14 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The stock has a market capitalization 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. The firm has a 50 day moving average of $364.64 and a 200 day moving average of $348.86.

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 net margin of 25.25% and a return on equity of 41.46%. Sell-side analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of the company’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 value of $910,683.21. Following the sale, the director now owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.10% of the company’s stock.

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.