Corpay, Inc. (NYSE:CPAY) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lessened its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 95,839 shares of the company’s stock after selling 243 shares during the quarter. Mediolanum International Funds Ltd owned about 0.14% of Corpay worth $32,273,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Albion Financial Group UT bought a new stake in shares of Corpay in the 3rd quarter worth $27,000. Versant Capital Management Inc raised its stake in shares of Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after buying an additional 60 shares in the last quarter. Huntington National Bank raised its stake in shares of Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after buying an additional 40 shares in the last quarter. Quarry LP bought a new stake in shares of Corpay in the 3rd quarter worth $42,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Corpay in the 4th quarter worth $43,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

CPAY opened at $387.18 on Friday. The firm has a market capitalization of $26.99 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26. The stock’s 50 day moving average price is $361.21 and its two-hundred day moving average price is $332.07. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $391.10.

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

Analyst Upgrades and Downgrades

CPAY has been the subject of several analyst reports. Jefferies Financial Group upped their target price on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley raised their price target on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and an average target price of $381.43.

Insider Transactions at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 in the company, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

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.