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

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 7.1% during the fourth quarter, Holdings Channel reports. The firm owned 160,441 shares of the company’s stock after purchasing an additional 10,579 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Corpay were worth $54,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its holdings in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares during the period. Spire Wealth Management purchased a new stake in Corpay during the fourth quarter valued at $42,000. Huntington National Bank lifted its holdings in Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after acquiring an additional 40 shares during the period. Quarry LP purchased a new position in Corpay in the third quarter worth about $42,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Corpay during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling

In other news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Macchia sold 2,427 shares of the stock in a transaction dated 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 transaction, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,402 shares of company stock worth $4,987,164. Corporate insiders own 6.10% of the company’s stock.

Corpay Trading Down 0.2 %

Corpay stock opened at $375.06 on Tuesday. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. 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 debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The stock has a market cap of $26.15 billion, a P/E ratio of 26.83, a PEG ratio of 1.33 and a beta of 1.28.

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

Analyst Upgrades and Downgrades

CPAY has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Jefferies Financial Group lifted their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada upped their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Barclays lifted their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research report on Wednesday, January 8th. 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’s stock. According to MarketBeat.com, Corpay presently 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.