MUFG Securities EMEA plc raised its holdings in shares of Corpay, Inc. (NYSE:CPAY – Free Report) by 112.1% in the 4th quarter, HoldingsChannel reports. The fund owned 2,868 shares of the company’s stock after buying an additional 1,516 shares during the quarter. MUFG Securities EMEA plc’s holdings in Corpay were worth $863,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Corpay during the 4th quarter worth about $266,190,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Corpay during the 4th quarter worth about $1,878,000. Triglav Investments D.O.O. acquired a new position in shares of Corpay during the 4th quarter worth about $650,000. Rothschild Investment LLC boosted its position in shares of Corpay by 202.1% during the 4th quarter. Rothschild Investment LLC now owns 145 shares of the company’s stock worth $44,000 after acquiring an additional 97 shares in the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Corpay during the 4th quarter worth about $74,000. 98.84% of the stock is owned by institutional investors and hedge funds.
Corpay Stock Down 2.0%
Shares of NYSE CPAY opened at $352.73 on Thursday. The stock has a market cap of $23.05 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 0.99 and a beta of 0.86. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86. Corpay, Inc. has a 52-week low of $252.84 and a 52-week high of $367.43. The business has a 50-day moving average price of $322.52 and a 200 day moving average price of $317.42.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on Corpay from $440.00 to $380.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Cantor Fitzgerald upped their price objective on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. JPMorgan Chase & Co. upped their target price on Corpay from $350.00 to $390.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Oppenheimer reissued an “outperform” rating and issued a $388.00 target price on shares of Corpay in a research report on Friday, May 8th. Finally, Royal Bank Of Canada upped their target price on Corpay from $344.00 to $363.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $383.07.
Read Our Latest Analysis on CPAY
Insider Buying and Selling
In other Corpay news, insider Armando Lins Netto sold 2,694 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $357.01, for a total transaction of $961,784.94. Following the completion of the sale, the insider directly owned 15,834 shares of the company’s stock, valued at $5,652,896.34. This represents a 14.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 17,201 shares of company stock worth $6,126,597. 5.19% of the stock is owned by corporate insiders.
Corpay Profile
Corpay (NYSE:CPAY) is a global payments and fintech company that provides businesses with tools to manage, move and optimize corporate spend. The company focuses on commercial payments, foreign exchange and cross-border transactions, aiming to simplify treasury operations and reduce friction in business-to-business payments through technology-driven solutions.
Its product offering includes payment processing and accounts payable automation, corporate and virtual card programs, expense management tools, and foreign-exchange hedging and execution services for international payments.
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