Quantbot Technologies LP Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Quantbot Technologies LP acquired a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 4,185 shares of the company's stock, valued at approximately $1,309,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC raised its stake in Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company's stock valued at $842,215,000 after buying an additional 78,880 shares in the last quarter. Hancock Whitney Corp raised its position in shares of Corpay by 0.3% during the 3rd quarter. Hancock Whitney Corp now owns 39,098 shares of the company's stock worth $12,228,000 after acquiring an additional 116 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Corpay by 8.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,343 shares of the company's stock worth $2,609,000 after purchasing an additional 678 shares during the last quarter. Swedbank AB boosted its holdings in Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company's stock valued at $58,210,000 after purchasing an additional 58,900 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Corpay by 17.3% in the third quarter. Cerity Partners LLC now owns 29,310 shares of the company's stock valued at $9,167,000 after purchasing an additional 4,315 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Performance

CPAY traded up $0.56 during trading on Friday, hitting $381.18. The stock had a trading volume of 212,465 shares, compared to its average volume of 499,720. The firm has a market capitalization of $26.57 billion, a P/E ratio of 27.19, a PEG ratio of 1.49 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay, Inc. has a twelve month low of $236.15 and a twelve month high of $385.30. The company's 50-day moving average price is $345.66 and its 200 day moving average price is $304.65.

Insider Activity

In related news, Director Joseph W. Farrelly sold 2,975 shares of the company'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 transaction, the director now owns 10,530 shares of the company's stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares of the company's stock, 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. Insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CPAY shares. Jefferies Financial Group upped their target price on shares of Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on Corpay from $285.00 to $320.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. JPMorgan Chase & Co. lifted their target price on Corpay from $327.00 to $353.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Bank of America upped their target price on Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Four investment 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 stock. According to data from MarketBeat, Corpay currently has a consensus rating of "Moderate Buy" and an average price target of $363.93.

Corpay 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.