Corpay, Inc. (NYSE:CPAY) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC grew its stake in shares of Corpay, Inc. (NYSE:CPAY) by 94.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,453 shares of the company’s stock after buying an additional 13,322 shares during the quarter. Natixis Advisors LLC’s holdings in Corpay were worth $8,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mizuho Securities USA LLC raised its position in shares of Corpay by 728.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 44,889 shares of the company’s stock worth $14,039,000 after buying an additional 39,468 shares in the last quarter. Empirical Finance LLC raised its position in shares of Corpay by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 2,493 shares of the company’s stock worth $780,000 after buying an additional 43 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Corpay by 7.3% during the 3rd quarter. CIBC Asset Management Inc now owns 10,196 shares of the company’s stock worth $3,189,000 after buying an additional 691 shares in the last quarter. Huntington National Bank raised its position in shares of Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after buying an additional 40 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after buying an additional 2,355 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on CPAY shares. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Citigroup boosted their target price on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. boosted their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Bank of America boosted their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley boosted their target price on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Price Performance

NYSE:CPAY opened at $375.01 on Friday. The stock has a market cap of $26.14 billion, a P/E ratio of 26.75, a PEG ratio of 1.44 and a beta of 1.21. Corpay, Inc. has a one year low of $230.68 and a one year high of $377.97. The company has a fifty day moving average price of $336.93 and a 200 day moving average price of $300.72. 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 Activity at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the 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 owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

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.