Point72 Asset Management L.P. Makes New $5.61 Million Investment in Corpay, Inc. (NYSE:CPAY)

Point72 Asset Management L.P. purchased a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,923 shares of the company's stock, valued at approximately $5,606,000.

Several other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers bought a new stake in shares of Corpay during the first quarter worth $1,628,000. CWM LLC acquired a new position in Corpay during the 2nd quarter valued at about $426,000. Simplicity Wealth LLC grew its holdings in Corpay by 13.3% during the second quarter. Simplicity Wealth LLC now owns 767 shares of the company's stock valued at $204,000 after purchasing an additional 90 shares during the period. Czech National Bank raised its holdings in Corpay by 5.4% in the second quarter. Czech National Bank now owns 13,391 shares of the company's stock worth $3,567,000 after purchasing an additional 687 shares during the period. Finally, Securian Asset Management Inc. bought a new position in shares of Corpay during the second quarter worth $1,042,000. 98.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business's stock in a transaction 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 sale, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the business's 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 directly owns 1,797 shares of the company's stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company's stock.

Corpay Stock Down 0.6 %

CPAY traded down $2.07 during midday trading on Monday, reaching $363.69. 185,856 shares of the company were exchanged, compared to its average volume of 470,628. The company has a market cap of $25.35 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24. Corpay, Inc. has a one year low of $247.10 and a one year high of $385.30. The company's fifty day moving average price is $352.03 and its 200 day moving average price is $308.00. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Barclays raised their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. BMO Capital Markets increased their target price on Corpay from $350.00 to $390.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. Morgan Stanley lifted their target price on Corpay from $325.00 to $350.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods upped their price target on Corpay from $400.00 to $425.00 and gave the stock an "outperform" rating in a research report on Monday. 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 company's stock. According to MarketBeat.com, Corpay presently has an average rating of "Moderate Buy" and an average price target of $365.71.

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.