Corpay, Inc. (NYSE:CPAY) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 73.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,729 shares of the company’s stock after purchasing an additional 5,408 shares during the period. King Luther Capital Management Corp’s holdings in Corpay were worth $3,981,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Albion Financial Group UT purchased a new stake in shares of Corpay in the third quarter valued at approximately $27,000. LGT Financial Advisors LLC acquired a new stake in shares of Corpay during the second quarter worth about $33,000. Blue Trust Inc. raised its stake in shares of Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Corpay during the second quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Corpay in the second quarter valued at $40,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CPAY. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Barclays lifted their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Bank of America boosted their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price objective on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Raymond James decreased their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and an average target price of $363.93.

Corpay Stock Performance

Shares of CPAY stock opened at $379.87 on Friday. Corpay, Inc. has a 12-month low of $230.68 and a 12-month high of $380.00. The firm has a market capitalization of $26.48 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21. The business has a 50 day simple moving average of $338.38 and a 200 day simple moving average of $301.26. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

Insider Transactions at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the transaction, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 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.