JPMorgan Chase & Co. Increases Holdings in Corpay, Inc. (NYSE:CPAY)

JPMorgan Chase & Co. increased its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,287,311 shares of the company's stock after purchasing an additional 120,578 shares during the quarter. JPMorgan Chase & Co. owned approximately 7.58% of Corpay worth $1,653,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in Corpay by 3.0% in the third 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. Geode Capital Management LLC boosted its position in shares of Corpay by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company's stock worth $523,061,000 after purchasing an additional 23,275 shares in the last quarter. Mawer Investment Management Ltd. grew its stake in shares of Corpay by 1.1% in the 2nd quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company's stock worth $313,644,000 after buying an additional 12,338 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Corpay by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company's stock valued at $191,497,000 after buying an additional 70,408 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Corpay by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company's stock valued at $143,393,000 after buying an additional 1,749 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on CPAY. BMO Capital Markets boosted their target price on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Keefe, Bruyette & Woods increased their price objective on shares of Corpay from $400.00 to $425.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Wells Fargo & Company raised their price objective on shares of Corpay from $285.00 to $320.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Citigroup upped their target price on shares of Corpay from $405.00 to $430.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Wolfe Research raised shares of Corpay from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $369.29.

Insiders Place Their Bets

In other news, 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 completion of the sale, the chief accounting officer now owns 1,797 shares of the company's stock, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction on 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 transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company's stock.

Corpay Stock Performance

Shares of CPAY traded down $4.05 during trading hours on Friday, hitting $341.23. The stock had a trading volume of 426,935 shares, compared to its average volume of 470,244. The firm has a market capitalization of $23.79 billion, a PE ratio of 24.34, a PEG ratio of 1.43 and a beta of 1.23. 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 $247.10 and a 12 month high of $385.30. The stock has a fifty day moving average price of $357.06 and a 200 day moving average price of $316.45.

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.