Steph & Co. Boosts Stake in Corpay, Inc. (NYSE:CPAY)

Steph & Co. grew its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 49.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 772 shares of the company’s stock after buying an additional 257 shares during the period. Steph & Co.’s holdings in Corpay were worth $261,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT bought a new stake in Corpay during the 3rd quarter valued at about $27,000. Versant Capital Management Inc increased its position in shares of Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares during the period. Huntington National Bank raised its stake in shares of 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 acquiring an additional 40 shares in the last quarter. Quarry LP purchased a new stake in shares of Corpay in the third quarter valued at approximately $42,000. Finally, Continuum Advisory LLC grew its stake in Corpay by 47.9% in the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock worth $44,000 after purchasing an additional 46 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their target price on Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. BMO Capital Markets upped their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Barclays raised their target price on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley lifted their price objective on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $377.50.

Insiders Place Their Bets

In related news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated 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 owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred 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 in the company, 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.

Corpay Stock Up 1.2 %

Shares of CPAY stock opened at $362.57 on Thursday. The stock’s fifty day moving average price is $359.11 and its 200 day moving average price is $324.55. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30. The company has a market cap of $25.27 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 1.17 and a beta of 1.26. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

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.