Daiwa Securities Group Inc. Buys 678 Shares of Corpay, Inc. (NYSE:CPAY)

Daiwa Securities Group Inc. boosted its position in Corpay, Inc. (NYSE:CPAY) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,343 shares of the company’s stock after acquiring an additional 678 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Corpay were worth $2,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CPAY. Swedbank AB increased its position in shares of Corpay by 26.9% during the 2nd quarter. Swedbank AB now owns 127,217 shares of the company’s stock valued at $33,892,000 after purchasing an additional 27,000 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Corpay during the first quarter worth approximately $10,171,000. Janus Henderson Group PLC bought a new stake in shares of Corpay in the 1st quarter worth approximately $2,827,000. iA Global Asset Management Inc. purchased a new stake in shares of Corpay in the 1st quarter valued at $1,881,000. Finally, TCW Group Inc. grew its holdings in shares of Corpay by 75.2% during the 2nd quarter. TCW Group Inc. now owns 17,579 shares of the company’s stock valued at $4,683,000 after purchasing an additional 7,543 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Jefferies Financial Group boosted their price target 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. JPMorgan Chase & Co. increased their target price on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Barclays lifted their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Morgan Stanley increased their price objective on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Bank of America lifted their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $363.93.

Corpay Stock Down 0.4 %

Shares of NYSE CPAY opened at $380.60 on Thursday. The firm has a fifty day simple moving average of $342.82 and a two-hundred day simple moving average of $303.14. The firm has a market capitalization of $26.53 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 12 month low of $231.30 and a 12 month high of $385.30.

Insider Buying and Selling

In related news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, 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 position. The disclosure for this sale can be found here. 6.10% of the stock is owned by 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.