Freedom Investment Management Inc. Purchases Shares of 3,091 Corpay, Inc. (NYSE:CPAY)

Freedom Investment Management Inc. bought a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,091 shares of the company's stock, valued at approximately $967,000.

A number of other hedge funds have also made changes to their positions in the business. Albion Financial Group UT acquired a new stake in Corpay in the third quarter valued at about $27,000. LGT Financial Advisors LLC acquired a new position in Corpay in the 2nd quarter valued at about $33,000. Huntington National Bank boosted its position in Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company's stock worth $42,000 after acquiring an additional 40 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Corpay during the second quarter worth $36,000. Finally, Blue Trust Inc. grew its holdings in Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company's stock valued at $36,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Up 0.1 %

CPAY traded up $0.56 during trading on Friday, reaching $381.18. The company had a trading volume of 212,465 shares, compared to its average volume of 471,828. The company has a market cap of $26.57 billion, a P/E ratio of 27.15, a PEG ratio of 1.49 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. Corpay, Inc. has a 12 month low of $236.15 and a 12 month high of $385.30. The business's fifty day moving average price is $344.18 and its 200 day moving average price is $303.68.

Insiders Place Their Bets

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business's stock in a transaction dated 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 completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the business's stock in a transaction 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 transaction, the chief accounting officer now directly owns 1,797 shares of the company's stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CPAY shares. Barclays raised their price objective on Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Raymond James lowered their price objective on Corpay from $330.00 to $311.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. BMO Capital Markets boosted their target price on shares of Corpay from $350.00 to $390.00 and gave the stock an "outperform" rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price target on Corpay from $327.00 to $353.00 and gave the company an "overweight" rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley raised 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. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $363.93.

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.