Aviance Capital Partners LLC Acquires 1,250 Shares of Corpay, Inc. (NYSE:CPAY)

Aviance Capital Partners LLC raised its holdings in Corpay, Inc. (NYSE:CPAY) by 6.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,179 shares of the company’s stock after acquiring an additional 1,250 shares during the period. Corpay accounts for 0.8% of Aviance Capital Partners LLC’s portfolio, making the stock its 24th largest position. Aviance Capital Partners LLC’s holdings in Corpay were worth $6,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in Corpay during the 1st quarter valued at $316,000. US Bancorp DE acquired a new position in Corpay in the 1st quarter valued at approximately $1,068,000. Avantax Advisory Services Inc. acquired a new stake in shares of Corpay during the 1st quarter worth approximately $426,000. Blair William & Co. IL bought a new stake in shares of Corpay during the first quarter valued at approximately $516,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Corpay in the first quarter valued at $12,069,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. William Blair raised Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $363.93.

Insider Transactions at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the sale, the director now owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.10% of the stock is owned by company insiders.

Corpay Stock Up 0.3 %

Shares of NYSE CPAY opened at $364.58 on Tuesday. Corpay, Inc. has a 12-month low of $230.68 and a 12-month high of $375.98. The firm’s 50-day simple moving average is $333.12 and its 200 day simple moving average is $299.23. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The company has a market cap of $25.42 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

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.