APG Asset Management N.V. Makes New $12.16 Million Investment in Corpay, Inc. (NYSE:CPAY)

APG Asset Management N.V. acquired a new stake in Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 37,200 shares of the company’s stock, valued at approximately $12,158,000. APG Asset Management N.V. owned about 0.05% of Corpay as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CPAY. Renaissance Group LLC bought a new stake in Corpay during the fourth quarter valued at $602,000. FIL Ltd acquired a new position in shares of Corpay in the 4th quarter valued at about $25,905,000. Invesco Ltd. boosted its position in shares of Corpay by 163.7% during the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock valued at $570,801,000 after purchasing an additional 1,047,080 shares in the last quarter. Cerity Partners LLC grew its stake in Corpay by 7.3% during the fourth quarter. Cerity Partners LLC now owns 31,443 shares of the company’s stock worth $10,542,000 after purchasing an additional 2,133 shares during the period. Finally, Federated Hermes Inc. increased its holdings in Corpay by 6,150.0% in the fourth quarter. Federated Hermes Inc. now owns 250 shares of the company’s stock worth $85,000 after purchasing an additional 246 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the stock in a transaction that occurred 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. 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 research report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their target price on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. BMO Capital Markets increased their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company boosted their price objective on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, 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 research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and a consensus price target of $401.54.

Corpay Stock Down 6.8 %

Corpay stock opened at $300.01 on Friday. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The firm’s 50-day simple moving average is $349.68 and its 200 day simple moving average is $352.04. The stock has a market cap of $21.08 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts’ consensus estimates 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 EPS for the current fiscal year.

Corpay 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.