Fisher Funds Management LTD Purchases Shares of 13,056 Corpay, Inc. (NYSE:CPAY)

Fisher Funds Management LTD purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, Holdings Channel.com reports. The firm purchased 13,056 shares of the company’s stock, valued at approximately $4,433,000.

Other hedge funds have also recently made changes to their positions in the company. Swedbank AB lifted its stake in Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after purchasing an additional 58,900 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after acquiring an additional 2,355 shares during the last quarter. Retireful LLC purchased a new position in Corpay in the 3rd quarter worth approximately $702,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Corpay in the third quarter valued at approximately $527,000. Finally, Banco Santander S.A. purchased a new stake in shares of Corpay during the third quarter valued at approximately $668,000. 98.84% of the stock is currently owned by institutional investors.

Insider Activity

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 directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Corpay Trading Down 1.4 %

Corpay stock opened at $363.66 on Monday. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The company has a market capitalization of $25.35 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. The business’s fifty day simple moving average is $362.96 and its two-hundred day simple moving average is $343.22. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last announced 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 net margin of 25.25% and a return on equity of 41.46%. As a group, equities analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on CPAY shares. Keefe, Bruyette & Woods lifted their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price target on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays upped their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada raised their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Finally, Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Company 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.