Swedbank AB Increases Holdings in Corpay, Inc. (NYSE:CPAY)

Swedbank AB grew its holdings in Corpay, Inc. (NYSE:CPAY) by 46.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 186,117 shares of the company’s stock after buying an additional 58,900 shares during the quarter. Swedbank AB’s holdings in Corpay were worth $58,210,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CPAY. O Shaughnessy Asset Management LLC purchased a new stake in shares of Corpay in the 1st quarter worth about $486,000. Bessemer Group Inc. bought a new stake in Corpay during the 1st quarter valued at approximately $352,000. Advisors Asset Management Inc. bought a new stake in Corpay during the 1st quarter valued at approximately $71,000. Kentucky Retirement Systems purchased a new position in shares of Corpay during the 1st quarter worth approximately $1,692,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Corpay in the 1st quarter worth approximately $735,000. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Morgan Stanley increased their price target on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Raymond James decreased their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

Corpay Stock Up 1.2 %

Corpay stock opened at $379.87 on Monday. Corpay, Inc. has a 12 month low of $230.68 and a 12 month high of $380.00. The stock has a fifty day simple moving average of $338.38 and a two-hundred day simple moving average of $301.21. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm has a market cap of $26.48 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.47 and a beta of 1.21.

Insider Activity at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the transaction, the chief accounting officer now owns 1,797 shares in the company, 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 the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

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.