Corpay, Inc. (NYSE:CPAY) Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in Corpay, Inc. (NYSE:CPAY) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,196 shares of the company’s stock after acquiring an additional 691 shares during the quarter. CIBC Asset Management Inc’s holdings in Corpay were worth $3,189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CPAY. Price T Rowe Associates Inc. MD bought a new stake in shares of Corpay in the 1st quarter worth approximately $1,355,377,000. Boston Partners bought a new position in shares of Corpay in the first quarter valued at $553,667,000. Third Point LLC acquired a new stake in shares of Corpay during the 1st quarter valued at $200,551,000. American Century Companies Inc. boosted its stake in shares of Corpay by 1,734.1% during the 2nd quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock worth $106,740,000 after acquiring an additional 378,817 shares in the last quarter. Finally, Capital International Investors acquired a new position in shares of Corpay in the 1st quarter worth $115,998,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Performance

Shares of CPAY opened at $364.58 on Tuesday. The company has a market capitalization of $25.42 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.02. Corpay, Inc. has a one year low of $230.68 and a one year high of $375.98. The company’s fifty day moving average price is $333.12 and its 200 day moving average price is $299.23.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CPAY shares. Wells Fargo & Company upped their target price on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. Morgan Stanley upped their price target on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Citigroup lifted their price target on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Four 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 company. Based on data from MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and an average target price of $363.93.

Insider Transactions at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

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.