Corpay, Inc. (NYSE:CPAY) Shares Bought by Pensionfund Sabic

Pensionfund Sabic lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,600 shares of the company’s stock after acquiring an additional 800 shares during the period. Pensionfund Sabic’s holdings in Corpay were worth $1,557,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new stake in shares of Corpay during the 3rd quarter valued at $27,000. Versant Capital Management Inc increased its stake in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares during the last quarter. Huntington National Bank raised its holdings in shares of Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after purchasing an additional 40 shares during the period. Quarry LP purchased a new position in shares of Corpay in the 3rd quarter worth about $42,000. Finally, Continuum Advisory LLC grew its holdings in shares of Corpay by 47.9% during the 3rd quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock worth $44,000 after purchasing an additional 46 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Up 1.1 %

Shares of CPAY stock traded up $3.82 during mid-day trading on Monday, reaching $345.67. 70,201 shares of the company were exchanged, compared to its average volume of 224,203. 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 business’s 50 day simple moving average is $356.25 and its 200 day simple moving average is $320.39. The company has a market capitalization of $24.10 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.43 and a beta of 1.26. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $385.30.

Insider Buying and Selling at Corpay

In other Corpay 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 value 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 $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the sale, the director now owns 10,530 shares in the company, 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.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target 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 report on Friday, December 13th. Bank of America raised their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods decreased their target price on Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Jefferies Financial Group raised their target price on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $368.57.

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.