Natixis Advisors LLC Increases Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Natixis Advisors LLC raised its stake in Corpay, Inc. (NYSE:CPAY) by 94.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,453 shares of the company’s stock after purchasing an additional 13,322 shares during the period. Natixis Advisors LLC’s holdings in Corpay were worth $8,586,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. increased its stake in Corpay by 22.7% in the third 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. increased its stake in Corpay by 21.2% in the third quarter. Mather Group LLC. now owns 200 shares of the company’s stock valued at $63,000 after purchasing an additional 35 shares during the last quarter. Epic Trust Investment Advisors LLC increased its stake in Corpay by 4.1% in the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after purchasing an additional 39 shares during the last quarter. Huntington National Bank grew its position in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after acquiring an additional 40 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Corpay by 21.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after acquiring an additional 43 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Citigroup raised their target price on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Raymond James lowered their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

Insider Buying and Selling at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the company’s 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 completion of the sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value 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 position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Corpay Stock Up 1.6 %

Shares of NYSE:CPAY opened at $375.01 on Friday. The stock’s fifty day simple moving average is $336.93 and its 200-day simple moving average is $300.72. Corpay, Inc. has a 52-week low of $230.68 and a 52-week high of $377.97. The company has a market capitalization of $26.14 billion, a P/E ratio of 26.75, a P/E/G ratio of 1.44 and a beta of 1.21. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

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.