Livforsakringsbolaget Skandia Omsesidigt cut its stake in Corpay, Inc. (NYSE:CPAY – Free Report) by 71.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,200 shares of the company’s stock after selling 23,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Corpay were worth $2,769,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. HB Wealth Management LLC grew its position in shares of Corpay by 1.9% in the fourth quarter. HB Wealth Management LLC now owns 1,741 shares of the company’s stock valued at $524,000 after purchasing an additional 33 shares in the last quarter. KBC Group NV grew its position in shares of Corpay by 0.4% in the fourth quarter. KBC Group NV now owns 9,318 shares of the company’s stock valued at $2,804,000 after purchasing an additional 36 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Corpay by 4.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 883 shares of the company’s stock valued at $254,000 after purchasing an additional 37 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Corpay by 35.5% in the fourth quarter. Harbour Investments Inc. now owns 149 shares of the company’s stock valued at $45,000 after purchasing an additional 39 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Corpay by 1.4% in the second quarter. Thrivent Financial for Lutherans now owns 2,771 shares of the company’s stock valued at $919,000 after purchasing an additional 39 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.
Corpay Trading Up 1.3%
Shares of Corpay stock opened at $356.99 on Friday. The firm has a market capitalization of $23.33 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 0.96 and a beta of 0.86. Corpay, Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $367.43. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50 day moving average of $323.78 and a 200 day moving average of $317.97.
Insiders Place Their Bets
In related news, insider Armando Lins Netto sold 14,089 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $356.05, for a total value of $5,016,388.45. Following the completion of the transaction, the insider directly owned 18,528 shares in the company, valued at approximately $6,596,894.40. This represents a 43.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 17,201 shares of company stock valued at $6,126,597 in the last ninety days. Corporate insiders own 5.19% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Raymond James Financial restated an “outperform” rating and issued a $361.00 price target on shares of Corpay in a research report on Thursday, March 5th. Morgan Stanley restated an “overweight” rating and issued a $400.00 price target on shares of Corpay in a research report on Sunday, May 10th. Wall Street Zen upgraded Corpay from a “hold” rating to a “buy” rating in a research report on Monday, March 23rd. Weiss Ratings upgraded Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. increased their price objective on Corpay from $350.00 to $390.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $383.07.
Get Our Latest Stock Analysis on Corpay
Corpay Company 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.
Featured Stories
- Five stocks we like better than Corpay
- The Great AI Server Rotation Puts Hewlett Packard Enterprise and Super Micro Computer in Focus
- Generac’s AI Power Pivot Raises a Bigger Question About Data Center Demand
- Medtronic Bottoms, Healthy Rebound Ahead
- GitLab’s Price Recovery Gains Traction—Time to Get On Board?
Want to see what other hedge funds are holding CPAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corpay, Inc. (NYSE:CPAY – Free Report).
Receive News & Ratings for Corpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corpay and related companies with MarketBeat.com's FREE daily email newsletter.
