Redwood Investment Management LLC Purchases 82 Shares of Corpay, Inc. (NYSE:CPAY)

Redwood Investment Management LLC lifted its stake in Corpay, Inc. (NYSE:CPAY) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,380 shares of the company’s stock after purchasing an additional 82 shares during the period. Redwood Investment Management LLC’s holdings in Corpay were worth $1,674,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Swedbank AB raised its position in shares of Corpay by 26.9% in 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. TCW Group Inc. increased its position in shares of Corpay by 75.2% during the 2nd quarter. TCW Group Inc. now owns 17,579 shares of the company’s stock worth $4,683,000 after purchasing an additional 7,543 shares during the last quarter. Securian Asset Management Inc. acquired a new stake in shares of Corpay during the 2nd quarter worth about $1,042,000. Oppenheimer Asset Management Inc. grew its position in Corpay by 66.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after acquiring an additional 2,355 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Corpay during the second quarter worth about $35,655,000. 98.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CPAY shares. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company raised their price objective on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Jefferies Financial Group raised their price target on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, William Blair upgraded Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Corpay has an average rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Stock Down 0.9 %

CPAY opened at $367.58 on Friday. The business has a 50 day moving average price of $350.94 and a 200 day moving average price of $306.91. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $385.30. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $25.62 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.

Insider Buying and Selling

In other Corpay news, 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 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. The trade was a 22.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.