OLD National Bancorp IN Buys 121 Shares of Corpay, Inc. (NYSE:CPAY)

OLD National Bancorp IN lifted its position in Corpay, Inc. (NYSE:CPAY) by 15.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 905 shares of the company’s stock after acquiring an additional 121 shares during the quarter. OLD National Bancorp IN’s holdings in Corpay were worth $306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Albion Financial Group UT bought a new stake in Corpay during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc lifted its position in shares of Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after buying an additional 60 shares in the last quarter. Huntington National Bank boosted its stake in Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after buying an additional 40 shares during the last quarter. Quarry LP purchased a new position in Corpay during the 3rd quarter valued at approximately $42,000. Finally, Synergy Asset Management LLC bought a new stake in Corpay in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Transactions at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction 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 trade represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of research reports. BMO Capital Markets increased their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley boosted their target price on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Bank of America increased their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company boosted their price objective on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods decreased their price objective on Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Three research 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $381.43.

Corpay Trading Down 1.8 %

NYSE CPAY opened at $380.55 on Monday. The stock has a market cap of $26.53 billion, a PE ratio of 27.14, a PEG ratio of 1.30 and a beta of 1.26. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $391.10. The company’s 50-day moving average price is $361.47 and its 200-day moving average price is $333.36. 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 (NYSE:CPAY) last issued its earnings results on Thursday, November 7th. The company reported $4.72 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.05. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Corpay had a net margin of 26.14% and a return on equity of 39.44%. During the same period last year, the company posted $4.20 earnings per share. Equities research analysts forecast that Corpay, Inc. will post 17.84 earnings per share for the current year.

Corpay Company 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.