Corpay, Inc. (NYSE:CPAY) Holdings Boosted by Fmr LLC

Fmr LLC grew its holdings in Corpay, Inc. (NYSE:CPAY) by 3.0% in the third quarter, Holdings Channel.com reports. The firm owned 2,692,847 shares of the company’s stock after purchasing an additional 78,880 shares during the period. Fmr LLC’s holdings in Corpay were worth $842,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners acquired a new position in Corpay during the first quarter valued at $553,667,000. Mawer Investment Management Ltd. lifted its position in shares of Corpay by 1.1% in the second quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company’s stock worth $313,644,000 after purchasing an additional 12,338 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Corpay by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock worth $191,497,000 after purchasing an additional 70,408 shares during the period. Charles Schwab Investment Management Inc. grew its position in Corpay by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock valued at $143,393,000 after purchasing an additional 1,749 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Corpay by 1,734.1% in the 2nd quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock valued at $106,740,000 after buying an additional 378,817 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Transactions at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at approximately $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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Raymond James lowered their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Barclays raised their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price objective on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Four 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 stock. According to data from MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Stock Performance

CPAY opened at $380.60 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock’s 50 day moving average price is $342.82 and its two-hundred day moving average price is $303.14. The firm has a market capitalization of $26.53 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21. Corpay, Inc. has a 12-month low of $231.30 and a 12-month high of $385.30.

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.