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

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

Several other institutional investors and hedge funds have also modified their holdings of the business. Avion Wealth boosted its holdings in Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc raised its position in shares of Corpay by 130.4% in the fourth 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 bought a new stake in shares of Corpay in the third quarter valued at approximately $42,000. Spire Wealth Management acquired a new stake in Corpay during the fourth quarter worth approximately $42,000. Finally, Assetmark Inc. increased its stake in Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after acquiring an additional 60 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction on 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 directly owns 12,215 shares in the company, valued at $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CPAY shares. Morgan Stanley upped their target price on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Royal Bank of Canada raised their target price on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a report on Wednesday, January 8th. BMO Capital Markets lifted their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company upped their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Price Performance

Corpay stock opened at $348.68 on Tuesday. The stock has a 50-day moving average price of $363.31 and a two-hundred day moving average price of $352.48. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The company has a market capitalization of $24.49 billion, a PE ratio of 24.94, a P/E/G ratio of 1.32 and a beta of 1.25. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last issued 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%. Analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

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.