2,299 Shares in Corpay, Inc. (NYSE:CPAY) Acquired by American Trust

American Trust bought a new position in Corpay, Inc. (NYSE:CPAY) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,299 shares of the company’s stock, valued at approximately $719,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Swedbank AB lifted its stake in shares of Corpay by 26.9% in the 2nd quarter. Swedbank AB now owns 127,217 shares of the company’s stock worth $33,892,000 after purchasing an additional 27,000 shares during the period. TCW Group Inc. increased its holdings in Corpay by 75.2% during the second quarter. TCW Group Inc. now owns 17,579 shares of the company’s stock valued at $4,683,000 after buying an additional 7,543 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after acquiring an additional 2,355 shares during the period. Wilkins Investment Counsel Inc. boosted its stake in shares of Corpay by 16.8% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 22,425 shares of the company’s stock worth $5,974,000 after acquiring an additional 3,225 shares during the last quarter. Finally, Retireful LLC purchased a new position in shares of Corpay during the 3rd quarter worth $702,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corpay

In other news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. This represents a 81.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the transaction, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Corpay Price Performance

CPAY stock opened at $357.10 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The company’s fifty day moving average price is $356.18 and its 200-day moving average price is $310.63. Corpay, Inc. has a one year low of $247.10 and a one year high of $385.30. The company has a market capitalization of $24.89 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CPAY shares. Jefferies Financial Group upped their price objective on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets upped their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Citigroup boosted their price objective on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays raised their target price 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. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $369.29.

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.