Paloma Partners Management Co Buys Shares of 4,104 Corpay, Inc. (NYSE:CPAY)

Paloma Partners Management Co purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,104 shares of the company's stock, valued at approximately $1,284,000.

A number of other hedge funds have also recently modified their holdings of the business. Swedbank AB raised its position in shares of Corpay by 26.9% during the 2nd quarter. Swedbank AB now owns 127,217 shares of the company's stock valued at $33,892,000 after purchasing an additional 27,000 shares during the period. Janus Henderson Group PLC bought a new stake in Corpay during the first quarter valued at about $2,827,000. TCW Group Inc. lifted its position in shares of Corpay by 75.2% in the second quarter. TCW Group Inc. now owns 17,579 shares of the company's stock valued at $4,683,000 after acquiring an additional 7,543 shares in the last quarter. Securian Asset Management Inc. bought a new position in shares of Corpay in the second quarter worth about $1,042,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Corpay by 66.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company's stock worth $1,842,000 after purchasing an additional 2,355 shares in the last quarter. Institutional investors own 98.84% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on CPAY shares. Citigroup upped their price target on Corpay from $405.00 to $430.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. Bank of America boosted their price target on shares of Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods raised their price objective on Corpay from $380.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Raymond James decreased their target price on Corpay from $330.00 to $311.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Four equities research 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. According to data from MarketBeat, Corpay has a consensus rating of "Moderate Buy" and an average target price of $363.93.

Corpay Trading Down 2.2 %

CPAY traded down $8.41 during trading on Tuesday, reaching $374.58. The company had a trading volume of 526,947 shares, compared to its average volume of 473,056. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $385.30. The stock has a market cap of $26.11 billion, a P/E ratio of 26.72, a PEG ratio of 1.50 and a beta of 1.24. The business has a 50 day simple moving average of $348.40 and a 200-day simple moving average of $306.03.

Insider Buying and Selling

In other news, Director Joseph W. Farrelly sold 2,975 shares of Corpay 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 completion of the sale, the director now directly owns 10,530 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares of the company's stock, valued at $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

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.