Fulton Bank N.A. Purchases 125 Shares of Corpay, Inc. (NYSE:CPAY)

Fulton Bank N.A. increased its position in shares of Corpay, Inc. (NYSE:CPAY) by 8.3% during the fourth quarter, HoldingsChannel reports. The fund owned 1,631 shares of the company’s stock after buying an additional 125 shares during the quarter. Fulton Bank N.A.’s holdings in Corpay were worth $552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Albion Financial Group UT bought a new stake in shares of Corpay during the third quarter worth about $27,000. Versant Capital Management Inc grew its holdings in Corpay by 130.4% during the 4th 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 increased its position in Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after acquiring an additional 40 shares during the period. Quarry LP bought a new position in shares of Corpay during the third quarter valued at $42,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Corpay by 47.9% during the third 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. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Activity at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on CPAY. Keefe, Bruyette & Woods lowered 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. Bank of America lifted their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company upped their target price on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Citigroup raised their price target on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, BMO Capital Markets upped their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $377.50.

Corpay Stock Performance

CPAY opened at $357.74 on Friday. The company has a market cap of $24.94 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.40 and a beta of 1.26. The company’s fifty day moving average price is $357.71 and its two-hundred day moving average price is $322.03. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

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.