GAM Holding AG Invests $1.41 Million in Corpay, Inc. (NYSE:CPAY)

GAM Holding AG purchased a new position in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,177 shares of the company’s stock, valued at approximately $1,414,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avion Wealth boosted its stake in shares of Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares during the period. Huntington National Bank grew its stake in shares of Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after buying an additional 40 shares during the period. Quarry LP purchased a new stake in shares of Corpay during the 3rd quarter valued at $42,000. Finally, Spire Wealth Management purchased a new stake in shares of Corpay during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were 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 in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CPAY shares. Keefe, Bruyette & Woods upped their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. BMO Capital Markets upped their target price on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Wells Fargo & Company upped their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada increased their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Three equities 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $399.71.

Corpay Stock Performance

NYSE CPAY opened at $386.46 on Wednesday. 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 capitalization of $26.94 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 1.33 and a beta of 1.28. The company’s fifty day moving average is $362.42 and its two-hundred day moving average is $341.09. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81.

Corpay (NYSE:CPAY) last issued its earnings results 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%. Equities research analysts forecast that Corpay, Inc. will post 20.62 EPS for the current year.

Corpay 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.