Swedbank AB Acquires 83,600 Shares of Corpay, Inc. (NYSE:CPAY)

Swedbank AB grew its stake in shares of Corpay, Inc. (NYSE:CPAY) by 44.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 269,717 shares of the company’s stock after buying an additional 83,600 shares during the quarter. Swedbank AB’s holdings in Corpay were worth $91,278,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CPAY. Albion Financial Group UT purchased a new stake in Corpay during the 3rd quarter valued at $27,000. Versant Capital Management Inc raised its stake in shares of Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 60 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after purchasing an additional 40 shares during the period. Quarry LP purchased a new stake in shares of Corpay during the third quarter worth about $42,000. Finally, Continuum Advisory LLC grew its stake in shares of Corpay by 47.9% in the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock worth $44,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE:CPAY opened at $381.22 on Thursday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50-day simple moving average of $360.97 and a two-hundred day simple moving average of $331.72. The firm has a market capitalization of $26.58 billion, a PE ratio of 27.19, a P/E/G ratio of 1.26 and a beta of 1.26. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $385.30.

Corpay (NYSE:CPAY) last released its earnings results on Thursday, November 7th. The company reported $4.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.05. Corpay had a net margin of 26.14% and a return on equity of 39.44%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $4.20 EPS. Analysts forecast that Corpay, Inc. will post 17.84 EPS for the current year.

Insider Transactions at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. This represents a 81.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the sale, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CPAY shares. Bank of America increased their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup assumed coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Morgan Stanley raised their price objective on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company raised their price objective on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Three 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $381.43.

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.