Mn Services Vermogensbeheer B.V. Purchases 500 Shares of Corpay, Inc. (NYSE:CPAY)

Mn Services Vermogensbeheer B.V. increased its position in shares of Corpay, Inc. (NYSE:CPAY) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,100 shares of the company’s stock after buying an additional 500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Corpay were worth $9,510,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. New York Life Investment Management LLC grew its stake in Corpay by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 10,379 shares of the company’s stock valued at $3,512,000 after purchasing an additional 62 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Corpay by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock worth $2,018,000 after purchasing an additional 30 shares during the last quarter. Gibraltar Capital Management Inc. lifted its holdings in Corpay by 1.6% during the 4th quarter. Gibraltar Capital Management Inc. now owns 19,954 shares of the company’s stock worth $6,753,000 after purchasing an additional 323 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in Corpay by 3.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after purchasing an additional 32 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in Corpay by 2.7% in the 4th 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. 98.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CPAY. Citigroup initiated coverage on Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Royal Bank of Canada upped their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. Morgan Stanley boosted their price objective on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets upped their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and an average price target of $399.71.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.10% of the stock is owned by corporate insiders.

Corpay Stock Performance

CPAY stock opened at $366.99 on Friday. The firm has a market cap of $25.58 billion, a PE ratio of 26.25, a P/E/G ratio of 1.32 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The business has a 50 day moving average of $365.02 and a 200-day moving average of $345.30. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81.

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 the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. As a group, sell-side analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.