Bank Julius Baer & Co. Ltd Zurich Takes $14.56 Million Position in Corpay, Inc. (NYSE:CPAY)

Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 41,447 shares of the company’s stock, valued at approximately $14,557,000.

Other large investors have also added to or reduced their stakes in the company. Avion Wealth boosted its stake in Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc boosted its stake in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 60 shares during the period. Spire Wealth Management bought a new position in Corpay in the 4th quarter worth about $42,000. Assetmark Inc. boosted its stake in Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after purchasing an additional 60 shares during the period. Finally, Huntington National Bank boosted its stake in Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after purchasing an additional 40 shares during the period. Institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

CPAY has been the subject of several analyst reports. Citigroup initiated 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. BMO Capital Markets raised their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company lifted their price target on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. 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. Finally, Morgan Stanley lifted their price target on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Three 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of Corpay 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 transaction, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.10% of the company’s stock.

Corpay Stock Performance

Shares of NYSE CPAY opened at $335.78 on Friday. The stock has a market cap of $23.59 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 1.32 and a beta of 1.25. 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 stock’s 50-day moving average is $365.56 and its 200 day moving average is $347.77.

Corpay (NYSE:CPAY) last announced 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 return on equity of 41.46% and a net margin of 25.25%. On average, sell-side analysts anticipate that Corpay, Inc. will post 19.76 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.