APG Asset Management N.V. Invests $12.16 Million in Corpay, Inc. (NYSE:CPAY)

APG Asset Management N.V. acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 37,200 shares of the company’s stock, valued at approximately $12,158,000.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Group LLC purchased a new position in Corpay during the 4th quarter valued at about $602,000. FIL Ltd bought a new position in shares of Corpay in the fourth quarter valued at approximately $25,905,000. Invesco Ltd. grew its stake in Corpay by 163.7% during the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock valued at $570,801,000 after acquiring an additional 1,047,080 shares in the last quarter. Cerity Partners LLC increased its holdings in Corpay by 7.3% during the 4th quarter. Cerity Partners LLC now owns 31,443 shares of the company’s stock worth $10,542,000 after acquiring an additional 2,133 shares during the period. Finally, Federated Hermes Inc. lifted its stake in Corpay by 6,150.0% in the 4th quarter. Federated Hermes Inc. now owns 250 shares of the company’s stock worth $85,000 after purchasing an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated 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 owns 12,215 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Morgan Stanley upped their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Citigroup started coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. BMO Capital Markets upped their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $401.54.

Corpay Price Performance

Shares of NYSE:CPAY opened at $300.01 on Friday. 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 stock has a market cap of $21.08 billion, a PE ratio of 21.46, a PEG ratio of 1.32 and a beta of 1.11. The company’s fifty day moving average is $349.68 and its 200 day moving average is $352.04. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. Research analysts anticipate 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.