Vinva Investment Management Ltd Acquires 1,524 Shares of Corpay, Inc. (NYSE:CPAY)

Vinva Investment Management Ltd boosted its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 54.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,298 shares of the company's stock after acquiring an additional 1,524 shares during the period. Vinva Investment Management Ltd's holdings in Corpay were worth $1,338,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CPAY. Albion Financial Group UT bought a new position in shares of Corpay in the 3rd quarter valued at $27,000. LGT Financial Advisors LLC acquired a new stake in shares of Corpay during the 2nd quarter valued at $33,000. Blue Trust Inc. boosted its holdings in shares of Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company's stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. Innealta Capital LLC acquired a new position in Corpay during the 2nd quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Corpay during the 2nd quarter worth about $40,000. Institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on CPAY. Raymond James cut their target price on Corpay from $330.00 to $311.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company lifted their target price on Corpay from $285.00 to $320.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Jefferies Financial Group boosted their price objective on Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Bank of America boosted their price objective on Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley boosted their price objective on Corpay from $325.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $363.93.

Corpay Stock Up 0.1 %

Corpay stock traded up $0.56 during midday trading on Friday, reaching $381.18. The stock had a trading volume of 212,465 shares, compared to its average volume of 471,828. Corpay, Inc. has a 12 month low of $236.15 and a 12 month high of $385.30. The company has a market capitalization of $26.57 billion, a P/E ratio of 27.19, a PEG ratio of 1.49 and a beta of 1.21. The company has a fifty day moving average price of $345.66 and a two-hundred day moving average price of $304.33. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

Insiders Place Their Bets

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the business'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 completion of the sale, the chief accounting officer now directly owns 1,797 shares of the company's stock, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the business's stock in a transaction that occurred 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 directly owns 10,530 shares of the company's stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company's stock.

About Corpay

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.