Skandinaviska Enskilda Banken AB publ Trims Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Skandinaviska Enskilda Banken AB publ decreased its stake in Corpay, Inc. (NYSE:CPAY) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,986 shares of the company’s stock after selling 400 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Corpay were worth $4,721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Corpay in the fourth quarter worth about $134,950,000. JPMorgan Chase & Co. boosted its stake in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after acquiring an additional 120,578 shares during the period. Prana Capital Management LP bought a new position in shares of Corpay in the third quarter worth about $31,541,000. Proficio Capital Partners LLC bought a new position in shares of Corpay in the fourth quarter worth about $28,632,000. Finally, Swedbank AB boosted its stake in shares of Corpay by 44.9% in the fourth quarter. Swedbank AB now owns 269,717 shares of the company’s stock worth $91,278,000 after acquiring an additional 83,600 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CPAY. Royal Bank of Canada upped their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Citigroup began coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Raymond James dropped their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. 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 increased their price target on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Three 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Insider Transactions at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s 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 transaction, the director now directly owns 12,215 shares in the company, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 6.10% of the company’s stock.

Corpay Trading Up 3.0 %

Shares of CPAY stock opened at $338.14 on Friday. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. 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 stock’s 50 day simple moving average is $364.64 and its two-hundred day simple moving average is $348.86. The company has a market cap of $23.75 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last issued its quarterly 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 return on equity of 41.46% and a net margin of 25.25%. Research analysts predict 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.