Wedmont Private Capital Purchases 70 Shares of Corpay, Inc. (NYSE:CPAY)

Wedmont Private Capital lifted its position in Corpay, Inc. (NYSE:CPAY) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,076 shares of the company’s stock after purchasing an additional 70 shares during the period. Wedmont Private Capital’s holdings in Corpay were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Corpay in the 3rd quarter worth $40,497,000. JPMorgan Chase & Co. boosted its stake in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after acquiring an additional 120,578 shares during the period. Prana Capital Management LP purchased a new stake in shares of Corpay during the third quarter worth about $31,541,000. FMR LLC raised its stake in Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after purchasing an additional 78,880 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Corpay by 10.9% in the 2nd 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 in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

NYSE:CPAY opened at $362.57 on Thursday. The firm has a market capitalization of $25.28 billion, a PE ratio of 25.86, a PEG ratio of 1.40 and a beta of 1.26. The stock’s fifty day moving average is $359.11 and its 200 day moving average is $324.55. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $385.30. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05.

Insider Buying and Selling at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the business’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 completion of the transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was 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. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CPAY shares. Wells Fargo & Company lifted their price objective 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. Keefe, Bruyette & Woods decreased their price target on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Citigroup initiated coverage on shares of Corpay in a report on Tuesday. They set a “buy” rating and a $430.00 price objective for the company. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a report on Wednesday, January 8th. Finally, Morgan Stanley increased their price target on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $377.50.

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.