Vinva Investment Management Ltd Raises Stake in Corpay, Inc. (NYSE:CPAY)

Vinva Investment Management Ltd raised its stake in Corpay, Inc. (NYSE:CPAY) by 54.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,298 shares of the company’s stock after buying an additional 1,524 shares during the quarter. Vinva Investment Management Ltd’s holdings in Corpay were worth $1,338,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new stake in Corpay in the 3rd quarter valued at $27,000. LGT Financial Advisors LLC purchased a new stake in Corpay in the 2nd quarter valued at $33,000. Blue Trust Inc. grew its holdings in shares of Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the period. Innealta Capital LLC purchased a new position in shares of Corpay during the 2nd quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Corpay during the 2nd quarter worth $40,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Price Performance

CPAY stock opened at $381.18 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $26.57 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.49 and a beta of 1.21. The business’s 50-day moving average is $345.66 and its two-hundred day moving average is $304.33. Corpay, Inc. has a 1 year low of $236.15 and a 1 year high of $385.30.

Insider Buying and Selling at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s 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 sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Citigroup increased their price target on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods increased their price target on Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Finally, Raymond James lowered their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Four 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, Corpay has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

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.