ING Groep NV Purchases Shares of 3,151 Corpay, Inc. (NYSE:CPAY)

ING Groep NV acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,151 shares of the company’s stock, valued at approximately $1,066,000.

Other institutional investors also recently made changes to their positions in the company. Avion Wealth lifted its holdings in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Versant Capital Management Inc increased its position in Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after buying an additional 60 shares during the period. Spire Wealth Management acquired a new stake in shares of Corpay during the fourth quarter worth $42,000. Huntington National Bank boosted its position in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after acquiring an additional 40 shares during the period. Finally, Quarry LP acquired a new position in shares of Corpay in the third quarter valued at about $42,000. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays lifted their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Raymond James dropped 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. Keefe, Bruyette & Woods increased their price target on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company upped their target price on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Stock Performance

NYSE:CPAY opened at $363.66 on Monday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. 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 simple moving average is $362.96 and its 200 day simple moving average is $343.22. The firm has a market capitalization of $25.35 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28.

Corpay (NYSE:CPAY) last posted its quarterly 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 net margin of 25.25% and a return on equity of 41.46%. On average, analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Buying and Selling at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the company’s 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.10% of the company’s stock.

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.