Everence Capital Management Inc. Acquires Shares of 1,010 Corpay, Inc. (NYSE:CPAY)

Everence Capital Management Inc. bought a new position in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,010 shares of the company’s stock, valued at approximately $342,000.

Other large investors also recently modified their holdings of the company. Gallacher Capital Management LLC acquired a new position in Corpay during the second quarter worth $260,000. Acadian Asset Management LLC acquired a new stake in shares of Corpay in the 2nd quarter worth about $571,000. Quest Partners LLC bought a new position in Corpay in the 2nd quarter valued at about $364,000. Choreo LLC acquired a new position in Corpay during the 2nd quarter valued at about $284,000. Finally, Royal London Asset Management Ltd. increased its holdings in Corpay by 9.0% during the 2nd quarter. Royal London Asset Management Ltd. now owns 32,253 shares of the company’s stock worth $8,593,000 after purchasing an additional 2,657 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup raised their target price on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods cut their price objective on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday. Jefferies Financial Group increased their target price on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays boosted their price target on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lifted their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Four equities research 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. According to data from MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.57.

Insider Activity

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the sale, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This 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 link. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Corpay Price Performance

Shares of NYSE CPAY opened at $342.66 on Tuesday. 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 stock has a fifty day simple moving average of $356.32 and a two-hundred day simple moving average of $320.96. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30. The firm has a market cap of $23.89 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 1.40 and a beta of 1.24.

Corpay Company 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.