4,340 Shares in Corpay, Inc. (NYSE:CPAY) Bought by Verition Fund Management LLC

Verition Fund Management LLC bought a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,340 shares of the company's stock, valued at approximately $1,357,000.

Several other large investors have also made changes to their positions in CPAY. Albion Financial Group UT acquired a new stake in Corpay during the third quarter worth about $27,000. LGT Financial Advisors LLC bought a new position in shares of Corpay during the 2nd quarter worth about $33,000. Blue Trust Inc. grew its stake in shares of Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company's stock valued at $36,000 after purchasing an additional 96 shares during the period. Innealta Capital LLC bought a new position in Corpay during the 2nd quarter valued at about $36,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Corpay during the second quarter worth about $40,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Activity

In related news, Director Joseph W. Farrelly sold 2,975 shares of the company's stock in a transaction dated 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 transaction, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now owns 1,797 shares of the company's stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CPAY. JPMorgan Chase & Co. increased their price objective on shares of Corpay from $327.00 to $353.00 and gave the stock an "overweight" rating in a report on Tuesday, August 20th. Barclays boosted their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Wolfe Research upgraded Corpay from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, September 3rd. Wells Fargo & Company boosted their target price on Corpay from $285.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods boosted their price objective on Corpay from $380.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $363.93.

Corpay Stock Down 0.5 %

CPAY traded down $1.82 on Friday, hitting $365.76. 323,241 shares of the company were exchanged, compared to its average volume of 494,575. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The stock's fifty day moving average is $352.03 and its 200-day moving average is $308.00. The company has a market cap of $25.50 billion, a PE ratio of 26.09, a PEG ratio of 1.45 and a beta of 1.24. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $385.30.

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.