Nomura Asset Management Co. Ltd. Sells 898 Shares of Corpay, Inc. (NYSE:CPAY)

Nomura Asset Management Co. Ltd. cut its stake in shares of Corpay, Inc. (NYSE:CPAY) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,810 shares of the company’s stock after selling 898 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Corpay were worth $8,735,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Avion Wealth raised its holdings in Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc increased its position in shares of Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares in the last quarter. Quarry LP acquired a new stake in Corpay during the 3rd quarter worth $42,000. Spire Wealth Management acquired a new position in Corpay in the fourth quarter valued at about $42,000. Finally, Assetmark Inc. grew its stake in Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock valued at $42,000 after acquiring an additional 60 shares during the period. Institutional investors own 98.84% of the company’s stock.

Insider Transactions at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. BMO Capital Markets upped their price target on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Royal Bank of Canada upped their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lifted their price target on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. 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. Based on data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Up 0.6 %

NYSE:CPAY opened at $348.68 on Tuesday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock’s 50 day moving average price is $363.31 and its two-hundred day moving average price is $352.48.

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 return on equity of 41.46% and a net margin of 25.25%. Equities research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.