Oak Thistle LLC Takes $302,000 Position in Corpay, Inc. (NYSE:CPAY)

Oak Thistle LLC purchased a new position in shares of Corpay, Inc. (NYSE:CPAY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 893 shares of the company’s stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tealwood Asset Management Inc. grew its stake in shares of Corpay by 0.7% in the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock worth $1,420,000 after acquiring an additional 30 shares in the last quarter. Unique Wealth LLC purchased a new position in Corpay during the fourth quarter worth about $307,000. Wedmont Private Capital grew its position in Corpay by 7.0% in the 4th quarter. Wedmont Private Capital now owns 1,076 shares of the company’s stock worth $375,000 after purchasing an additional 70 shares in the last quarter. Czech National Bank increased its stake in Corpay by 6.9% in the 4th quarter. Czech National Bank now owns 15,115 shares of the company’s stock valued at $5,115,000 after buying an additional 971 shares during the last quarter. Finally, First Hawaiian Bank lifted its position in shares of Corpay by 202.2% during the 4th quarter. First Hawaiian Bank now owns 6,601 shares of the company’s stock worth $2,234,000 after buying an additional 4,417 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Up 0.2 %

Corpay stock opened at $370.91 on Friday. The firm has a 50 day simple moving average of $359.85 and a 200 day simple moving average of $325.13. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30. The firm has a market capitalization of $25.86 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 1.17 and a beta of 1.26.

Insider Activity

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 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 approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred on 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 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 disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CPAY has been the subject of several recent analyst reports. Barclays upped their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Citigroup assumed coverage on Corpay in a research note on Tuesday. They issued a “buy” rating and a $430.00 price objective for the company. Keefe, Bruyette & Woods lowered their target price on Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Bank of America increased their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company lifted their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $381.43.

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.