Assenagon Asset Management S.A. Acquires 39,715 Shares of Corpay, Inc. (NYSE:CPAY)

Assenagon Asset Management S.A. raised its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 132.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,659 shares of the company's stock after buying an additional 39,715 shares during the quarter. Assenagon Asset Management S.A. owned about 0.10% of Corpay worth $23,574,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Albion Financial Group UT purchased a new stake in shares of Corpay during the 3rd quarter worth $27,000. Versant Capital Management Inc increased its position in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after buying an additional 60 shares during the period. Huntington National Bank boosted its holdings in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company's stock valued at $42,000 after acquiring an additional 40 shares during the period. Quarry LP purchased a new position in shares of Corpay during the third quarter worth approximately $42,000. Finally, Continuum Advisory LLC boosted its stake in Corpay by 47.9% during the 3rd quarter. Continuum Advisory LLC now owns 142 shares of the company's stock worth $44,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

Corpay stock traded up $0.91 on Friday, reaching $370.91. 430,738 shares of the stock were exchanged, compared to its average volume of 373,159. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm has a fifty day moving average price of $359.95 and a two-hundred day moving average price of $325.86. The stock has a market cap of $25.86 billion, a PE ratio of 26.46, a PEG ratio of 1.17 and a beta of 1.26. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $385.30.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CPAY. Wolfe Research raised Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target on the stock in a report on Wednesday, January 8th. Citigroup began coverage on Corpay in a research note on Tuesday. They set a "buy" rating and a $430.00 price target for the company. Jefferies Financial Group lifted their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Barclays increased their price target on shares of Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Finally, Morgan Stanley upped their price target 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. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Corpay currently has an average rating of "Moderate Buy" and an average target price of $381.43.

Insiders Place Their Bets

In related news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 in the company, valued at $664,961.88. This represents a 81.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated Wednesday, November 13th. The shares were 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 directly 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 disclosure for this sale can be found here. Company insiders own 6.10% of the company's stock.

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.