Edgestream Partners L.P. Takes $654,000 Position in Corpay, Inc. (NYSE:CPAY)

Edgestream Partners L.P. acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,090 shares of the company's stock, valued at approximately $654,000.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. increased its position in shares of Corpay by 22.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company's stock worth $58,000 after purchasing an additional 34 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Corpay by 21.2% during the third quarter. Mather Group LLC. now owns 200 shares of the company's stock worth $63,000 after buying an additional 35 shares in the last quarter. Epic Trust Investment Advisors LLC raised its position in shares of Corpay by 4.1% in the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company's stock valued at $266,000 after buying an additional 39 shares during the last quarter. Huntington National Bank raised its position 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 buying an additional 40 shares during the last quarter. Finally, Empirical Finance LLC lifted its stake in shares of Corpay by 1.8% in the third quarter. Empirical Finance LLC now owns 2,493 shares of the company's stock worth $780,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Transactions at Corpay

In other news, CAO Alissa B. Vickery sold 8,000 shares of the firm's 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 completion of the transaction, the chief accounting officer now owns 1,797 shares of the company's stock, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction that occurred 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 completion of the transaction, the director now owns 10,530 shares of the company's stock, 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. Company insiders own 6.10% of the company's stock.

Corpay Trading Up 0.2 %

Shares of NYSE:CPAY traded up $0.74 during mid-day trading on Friday, reaching $368.32. 120,756 shares of the company were exchanged, compared to its average volume of 470,975. The firm has a market cap of $25.68 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 1.47 and a beta of 1.24. 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 1 year low of $247.10 and a 1 year high of $385.30. The firm's 50-day simple moving average is $350.94 and its 200 day simple moving average is $306.91.

Analysts Set New Price Targets

A number of analysts have commented on CPAY shares. Morgan Stanley increased their price objective on shares of Corpay from $325.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Wolfe Research upgraded Corpay from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, September 3rd. Barclays upped their target price on Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Raymond James reduced their price target on Corpay from $330.00 to $311.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Finally, Citigroup upped their price objective on shares of Corpay from $405.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Corpay currently has a consensus rating of "Moderate Buy" and an average price target of $363.93.

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.