Board of the Pension Protection Fund Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Board of the Pension Protection Fund acquired a new stake in Corpay, Inc. (NYSE:CPAY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 200 shares of the company’s stock, valued at approximately $68,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Tealwood Asset Management Inc. increased its holdings in shares of Corpay by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock worth $1,420,000 after acquiring an additional 30 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Corpay by 22.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after purchasing an additional 34 shares during the period. Mather Group LLC. increased its holdings in shares of 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. Huntington National Bank increased its holdings in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares during the last quarter. Finally, Empirical Finance LLC raised its position in shares of Corpay by 1.8% in the third quarter. Empirical Finance LLC now owns 2,493 shares of the company’s stock valued at $780,000 after purchasing an additional 43 shares during the period. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CPAY shares. Jefferies Financial Group lifted their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Citigroup began coverage on Corpay in a report on Tuesday. They set a “buy” rating and a $430.00 price objective for the company. Wells Fargo & Company increased their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Bank of America boosted their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley increased their price objective on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and an average target price of $377.50.

Corpay Stock Up 1.2 %

CPAY stock opened at $362.57 on Thursday. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $385.30. The business has a 50-day simple moving average of $359.11 and a 200 day simple moving average of $324.55. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The company has a market cap of $25.28 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

Insider Buying and Selling at Corpay

In other news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

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.