Corpay, Inc. (NYSE:CPAY) Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in Corpay, Inc. (NYSE:CPAY) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,287,311 shares of the company’s stock after acquiring an additional 120,578 shares during the period. JPMorgan Chase & Co. owned about 7.58% of Corpay worth $1,653,659,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Corpay by 2.6% during the third quarter. Principal Financial Group Inc. now owns 86,539 shares of the company’s stock valued at $27,066,000 after buying an additional 2,175 shares in the last quarter. American Trust acquired a new stake in Corpay during the 3rd quarter worth about $719,000. Peapack Gladstone Financial Corp grew its stake in Corpay by 0.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 40,416 shares of the company’s stock valued at $12,640,000 after acquiring an additional 113 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Corpay by 1.5% in the 3rd quarter. Tidal Investments LLC now owns 4,641 shares of the company’s stock valued at $1,452,000 after purchasing an additional 68 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Corpay in the third quarter worth approximately $364,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Transactions at Corpay

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CPAY shares. Morgan Stanley boosted their price objective on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. BMO Capital Markets upped their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Barclays lifted their price objective on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Bank of America upped their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group lifted their price target on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $369.29.

Corpay Stock Performance

Shares of CPAY opened at $345.28 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. Corpay, Inc. has a one year low of $247.10 and a one year high of $385.30. The company’s fifty day moving average price is $357.31 and its 200 day moving average price is $315.88. The company has a market capitalization of $24.07 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

Corpay Company 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.