KLP Kapitalforvaltning AS Makes New Investment in Corpay, Inc. (NYSE:CPAY)

KLP Kapitalforvaltning AS purchased a new position in Corpay, Inc. (NYSE:CPAY) during the 4th quarter, HoldingsChannel reports. The firm purchased 45,908 shares of the company’s stock, valued at approximately $15,536,000.

Several other institutional investors also recently added to or reduced their stakes in CPAY. Avion Wealth increased its position 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 buying an additional 91 shares during the period. Versant Capital Management Inc increased its position 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 buying an additional 60 shares during the period. Quarry LP bought a new position in Corpay in the 3rd quarter worth approximately $42,000. Spire Wealth Management bought a new position in Corpay in the 4th quarter worth approximately $42,000. Finally, Assetmark Inc. increased its position in Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after buying an additional 60 shares during the period. 98.84% of the stock is owned by institutional investors.

Corpay Price Performance

Shares of CPAY stock opened at $347.12 on Monday. 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 firm has a market cap of $24.38 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 1.32 and a beta of 1.25. The stock’s fifty day simple moving average is $364.50 and its 200 day simple moving average is $350.44. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81.

Corpay (NYSE:CPAY) last posted its quarterly earnings data 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, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price objective on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Raymond James decreased their price objective on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Finally, Royal Bank of Canada lifted their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

About Corpay

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.