Assetmark Inc. Has $42,000 Position in Corpay, Inc. (NYSE:CPAY)

Assetmark Inc. increased its position in Corpay, Inc. (NYSE:CPAY) by 93.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124 shares of the company’s stock after purchasing an additional 60 shares during the quarter. Assetmark Inc.’s holdings in Corpay were worth $42,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CPAY. JPMorgan Chase & Co. lifted its stake in Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares during the last quarter. Prana Capital Management LP acquired a new stake in shares of Corpay in the third quarter valued at approximately $31,541,000. Proficio Capital Partners LLC acquired a new stake in shares of Corpay in the fourth quarter valued at approximately $28,632,000. Swedbank AB lifted its holdings in Corpay by 44.9% during the 4th quarter. Swedbank AB now owns 269,717 shares of the company’s stock valued at $91,278,000 after purchasing an additional 83,600 shares during the last quarter. Finally, FMR LLC lifted its holdings in Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after purchasing an additional 78,880 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPAY has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price target on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. BMO Capital Markets lifted 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. Royal Bank of Canada lifted their target price on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Finally, Citigroup began coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of Corpay 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 transaction, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.10% of the stock is currently owned by company insiders.

Corpay Stock Performance

Corpay stock opened at $338.14 on Friday. The business has a 50 day moving average of $364.64 and a 200-day moving average of $348.86. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The company has a market capitalization of $23.75 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 EPS 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%. On average, equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current 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.