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

Korea Investment CORP lifted its stake in Corpay, Inc. (NYSE:CPAY) by 79.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,861 shares of the company’s stock after acquiring an additional 33,683 shares during the period. Korea Investment CORP’s holdings in Corpay were worth $25,673,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

CPAY has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Citigroup began 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. Raymond James dropped their price objective 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 upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada lifted their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Trading Down 2.4 %

Shares of 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 cap of $24.36 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.32 and a beta of 1.25. The firm has a 50 day moving average price of $363.75 and a 200-day moving average price of $351.56. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (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 research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insider Buying and Selling

In other Corpay news, Director Richard Macchia sold 2,427 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the sale, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.10% of the stock is owned by corporate 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.