Radnor Capital Management LLC Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Radnor Capital Management LLC bought a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,835 shares of the company's stock, valued at approximately $3,667,000.

Several other hedge funds and other institutional investors have also modified their holdings of CPAY. International Assets Investment Management LLC bought a new position in Corpay during the 3rd quarter worth $40,497,000. JPMorgan Chase & Co. increased its position in Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after acquiring an additional 120,578 shares during the period. Prana Capital Management LP bought a new position in Corpay during the third quarter worth about $31,541,000. FMR LLC boosted its holdings in Corpay by 3.0% in the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company's stock valued at $842,215,000 after purchasing an additional 78,880 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Corpay by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company's stock worth $191,497,000 after purchasing an additional 70,408 shares in the last quarter. Institutional investors own 98.84% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CPAY. Bank of America lifted their price target on shares of Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods cut their target price on Corpay from $425.00 to $415.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. Jefferies Financial Group increased their target price on Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on Corpay from $285.00 to $320.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Finally, Citigroup assumed coverage on shares of Corpay in a research note on Tuesday. They set a "buy" rating and a $430.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $377.50.

Corpay Price Performance

Shares of NYSE:CPAY traded up $4.15 during trading on Wednesday, hitting $362.57. 356,246 shares of the company were exchanged, compared to its average volume of 475,054. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30. The company has a market capitalization of $25.28 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. 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 business's 50 day moving average is $359.11 and its 200-day moving average is $324.55.

Insiders Place Their Bets

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business's 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 sale, the director now owns 10,530 shares of the company's stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company's stock.

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.