Korea Investment CORP Purchases 33,683 Shares of Corpay, Inc. (NYSE:CPAY)

Korea Investment CORP raised its position in Corpay, Inc. (NYSE:CPAY) by 79.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 75,861 shares of the company’s stock after purchasing an additional 33,683 shares during the period. Korea Investment CORP owned 0.11% of Corpay worth $25,673,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CPAY. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Corpay by 14.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,988 shares of the company’s stock valued at $12,179,000 after buying an additional 4,629 shares during the period. Vanguard Group Inc. lifted its stake in shares of Corpay by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after purchasing an additional 120,688 shares during the period. LPL Financial LLC lifted its stake in shares of Corpay by 19.7% in the 4th quarter. LPL Financial LLC now owns 9,823 shares of the company’s stock valued at $3,324,000 after purchasing an additional 1,620 shares during the period. Fox Run Management L.L.C. acquired a new stake in Corpay during the fourth quarter worth approximately $933,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Corpay in the fourth quarter worth approximately $15,536,000. 98.84% of the stock is owned by institutional investors.

Corpay Stock Down 2.4 %

CPAY opened at $346.79 on Friday. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The firm has a market capitalization of $24.36 billion, a P/E ratio of 24.81, a PEG ratio of 1.32 and a beta of 1.25. The company’s 50-day moving average is $363.75 and its 200 day moving average is $351.56. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. Research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPAY has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Raymond James reduced their price target on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Morgan Stanley upped their price objective 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. Royal Bank of Canada raised their target price on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Finally, Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. Three investment 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the sale, the director now owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by insiders.

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.