Ceera Investments LLC Grows Position in Corpay, Inc. (NYSE:CPAY)

Ceera Investments LLC lifted its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 22.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,258 shares of the company's stock after acquiring an additional 3,022 shares during the quarter. Corpay accounts for about 1.9% of Ceera Investments LLC's holdings, making the stock its 16th biggest position. Ceera Investments LLC's holdings in Corpay were worth $5,085,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPAY. Albion Financial Group UT acquired a new stake in shares of Corpay during the third quarter valued at about $27,000. Headlands Technologies LLC bought a new position in Corpay during the 1st quarter valued at $31,000. LGT Financial Advisors LLC bought a new stake in shares of Corpay in the 2nd quarter worth about $33,000. Huntington National Bank raised its stake in shares of Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company's stock valued at $42,000 after purchasing an additional 40 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Corpay during the second quarter worth about $36,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group raised their price target on Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Wolfe Research raised Corpay from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, September 3rd. Morgan Stanley lifted their price objective 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. Bank of America upped their target price on Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Corpay from $380.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Four 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 company's stock. Based on data from MarketBeat, Corpay has an average rating of "Moderate Buy" and an average price target of $363.93.

Corpay Trading Down 1.9 %

Corpay stock traded down $6.92 during mid-day trading on Friday, hitting $363.36. 564,439 shares of the stock were exchanged, compared to its average volume of 576,055. The stock has a market capitalization of $25.33 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.42 and a beta of 1.21. Corpay, Inc. has a 12 month low of $230.68 and a 12 month high of $375.98. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm's fifty day simple moving average is $331.97 and its two-hundred day simple moving average is $298.77.

Insider Activity at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the sale, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.10% of the stock is owned by insiders.

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.