Huntington National Bank Increases Stock Position in Corpay, Inc. (NYSE:CPAY)

Huntington National Bank grew its stake in Corpay, Inc. (NYSE:CPAY) by 43.0% during the third quarter, Holdings Channel.com reports. The fund owned 133 shares of the company’s stock after acquiring an additional 40 shares during the period. Huntington National Bank’s holdings in Corpay were worth $42,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CPAY. Whittier Trust Co. of Nevada Inc. increased its holdings in Corpay by 22.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock valued at $58,000 after purchasing an additional 34 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Corpay by 21.2% in the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock valued at $63,000 after buying an additional 35 shares during the period. Epic Trust Investment Advisors LLC lifted its stake in Corpay by 4.1% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after acquiring an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Corpay by 21.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after acquiring an additional 43 shares during the period. Finally, Signaturefd LLC grew its position in Corpay by 22.3% in the 3rd quarter. Signaturefd LLC now owns 252 shares of the company’s stock valued at $79,000 after acquiring an additional 46 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Trading Up 1.0 %

Shares of Corpay stock opened at $368.16 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The company has a fifty day simple moving average of $334.29 and a 200-day simple moving average of $299.71. The stock has a market cap of $25.66 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.42 and a beta of 1.21. Corpay, Inc. has a 12-month low of $230.68 and a 12-month high of $375.98.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CPAY. Morgan Stanley increased their price target on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price target on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. BMO Capital Markets upped their price objective on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods lifted their target price on Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $363.93.

Insider Activity at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction that occurred on 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 of the company’s stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.10% of the stock is owned by corporate insiders.

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.