Hennion & Walsh Asset Management Inc. Raises Holdings in Corpay, Inc. (NYSE:CPAY)

Hennion & Walsh Asset Management Inc. increased its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 77.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,133 shares of the company's stock after buying an additional 929 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Corpay were worth $722,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Steph & Co. grew its stake in shares of Corpay by 49.9% in the fourth quarter. Steph & Co. now owns 772 shares of the company's stock worth $261,000 after acquiring an additional 257 shares during the period. Radnor Capital Management LLC bought a new stake in Corpay during the 4th quarter valued at approximately $3,667,000. Park Avenue Securities LLC boosted its position in shares of Corpay by 13.4% during the fourth quarter. Park Avenue Securities LLC now owns 1,648 shares of the company's stock worth $558,000 after acquiring an additional 195 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Corpay by 132.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 69,659 shares of the company's stock worth $23,574,000 after buying an additional 39,715 shares in the last quarter. Finally, Board of the Pension Protection Fund bought a new position in shares of Corpay during the 4th quarter valued at approximately $68,000. Institutional investors own 98.84% of the company's stock.

Corpay Trading Up 0.2 %

Shares of CPAY traded up $0.91 during trading on Monday, reaching $370.91. 430,738 shares of the company traded hands, compared to its average volume of 373,159. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock has a market cap of $25.86 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.17 and a beta of 1.26. The stock has a 50-day simple moving average of $359.95 and a 200-day simple moving average of $326.68. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $385.30.

Insider Activity at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 10,530 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the company'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 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 currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CPAY. Bank of America lifted their target price on Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Wolfe Research raised Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group upped their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, BMO Capital Markets boosted their target price on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Three investment 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 stock. Based on data from MarketBeat, Corpay has an average rating of "Moderate Buy" and an average price target of $381.43.

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.