Artemis Investment Management LLP Takes Position in Corpay, Inc. (NYSE:CPAY)

Artemis Investment Management LLP bought a new position in shares of Corpay, Inc. (NYSE:CPAY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,442 shares of the company’s stock, valued at approximately $3,872,000.

A number of other institutional investors have also recently added to or reduced their stakes in CPAY. International Assets Investment Management LLC bought a new stake in shares of Corpay in the 3rd quarter worth approximately $40,497,000. JPMorgan Chase & Co. grew its position in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after buying an additional 120,578 shares during the last quarter. Prana Capital Management LP bought a new position in shares of Corpay in the third quarter valued at $31,541,000. FMR LLC lifted its position in shares of 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 acquiring an additional 78,880 shares during the last quarter. Finally, Stanley Capital Management LLC bought a new stake in shares of Corpay during the 2nd quarter worth $18,593,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 1,797 shares in the company, valued at approximately $664,961.88. This represents a 81.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred 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. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Corpay Trading Up 0.2 %

Shares of NYSE CPAY opened at $370.91 on Monday. The stock has a market cap of $25.86 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.17 and a beta of 1.26. The business has a 50 day simple moving average of $359.95 and a 200 day simple moving average of $326.26. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $385.30.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CPAY shares. Morgan Stanley upped their target price on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company upped their price objective on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday. Keefe, Bruyette & Woods dropped their target price on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research report on Wednesday, January 8th. Finally, Bank of America lifted their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $381.43.

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.