Artemis Investment Management LLP Purchases Shares of 11,442 Corpay, Inc. (NYSE:CPAY)

Artemis Investment Management LLP purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,442 shares of the company's stock, valued at approximately $3,872,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in Corpay during the third quarter worth about $40,497,000. JPMorgan Chase & Co. boosted its holdings in Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock valued at $1,653,659,000 after acquiring an additional 120,578 shares during the period. Prana Capital Management LP acquired a new stake in Corpay during the 3rd quarter worth approximately $31,541,000. FMR LLC increased its holdings in Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company's stock worth $842,215,000 after purchasing an additional 78,880 shares during the period. Finally, Stanley Capital Management LLC purchased a new stake in shares of Corpay during the 2nd quarter worth $18,593,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Price Performance

Corpay stock traded up $0.91 during mid-day trading on Monday, reaching $370.91. The company had a trading volume of 430,738 shares, compared to its average volume of 373,159. The business has a fifty day simple moving average of $359.95 and a 200 day simple moving average of $326.68. The company has a market cap of $25.86 billion, a P/E ratio of 26.46, a P/E/G ratio of 1.17 and a beta of 1.26. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $385.30.

Insider Activity

In related news, CAO Alissa B. Vickery sold 8,000 shares of Corpay 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 completion of the transaction, the chief accounting officer now owns 1,797 shares of the company's stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were 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 $3,950,645.40. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CPAY has been the subject of several recent research reports. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price for the company in a research note on Wednesday, January 8th. Morgan Stanley lifted their target price on shares of Corpay from $325.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Jefferies Financial Group boosted their price target on Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Citigroup assumed coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price objective for the company. Finally, Bank of America lifted their price target on Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $381.43.

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.