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

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

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

Insider Activity

In related news, CAO Alissa B. Vickery sold 8,000 shares of the firm’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 transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction 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 sale, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CPAY. Jefferies Financial Group raised their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price objective on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley upped their target price on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Barclays lifted their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a report on Monday. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average target price of $368.57.

Corpay Stock Up 1.1 %

Shares of Corpay stock traded up $3.82 on Monday, reaching $345.67. 70,201 shares of the company were exchanged, compared to its average volume of 224,203. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30. The stock’s 50 day moving average price is $356.25 and its 200-day moving average price is $320.39. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $24.10 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26.

Corpay 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.