First Hawaiian Bank Has $2.23 Million Position in Corpay, Inc. (NYSE:CPAY)

First Hawaiian Bank grew its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 202.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,601 shares of the company's stock after buying an additional 4,417 shares during the quarter. First Hawaiian Bank's holdings in Corpay were worth $2,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. lifted its position in Corpay by 66.7% in 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 during the period. Swedbank AB grew its holdings in Corpay by 46.3% during the third quarter. Swedbank AB now owns 186,117 shares of the company's stock worth $58,210,000 after acquiring an additional 58,900 shares during the period. Wilkins Investment Counsel Inc. raised its position in Corpay by 16.8% in the second quarter. Wilkins Investment Counsel Inc. now owns 22,425 shares of the company's stock worth $5,974,000 after acquiring an additional 3,225 shares in the last quarter. Retireful LLC acquired a new stake in Corpay in the 3rd quarter valued at about $702,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Corpay during the 3rd quarter valued at about $527,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the company's stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 1,797 shares in the company, 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. 6.10% of the stock is owned by corporate insiders.

Corpay Stock Up 2.9 %

CPAY traded up $10.11 during trading on Thursday, reaching $357.74. 828,794 shares of the stock traded hands, compared to its average volume of 484,506. The stock's 50-day simple moving average is $357.71 and its two-hundred day simple moving average is $322.03. 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 fifty-two week low of $247.10 and a fifty-two week high of $385.30. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

Wall Street Analyst Weigh In

A number of research firms recently commented on CPAY. Barclays boosted their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Morgan Stanley raised their price objective on Corpay from $325.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods reduced their target price on Corpay from $425.00 to $415.00 and set an "outperform" rating for the company in a report on Monday. BMO Capital Markets lifted their price target on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Finally, Bank of America upped their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $377.50.

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.