1,775 Shares in Corpay, Inc. (NYSE:CPAY) Bought by Cypress Capital Group

Cypress Capital Group bought a new position in Corpay, Inc. (NYSE:CPAY) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,775 shares of the company’s stock, valued at approximately $555,000.

Several other large investors have also made changes to their positions in CPAY. Janney Montgomery Scott LLC acquired a new stake in Corpay in the 1st quarter valued at $316,000. Blair William & Co. IL acquired a new stake in shares of Corpay during the first quarter valued at about $516,000. Covestor Ltd acquired a new stake in shares of Corpay during the first quarter valued at about $65,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Corpay during the first quarter valued at about $247,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Corpay during the first quarter valued at about $486,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CPAY has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. Bank of America lifted their price target on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Citigroup lifted their price target on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $363.93.

Corpay Stock Performance

CPAY opened at $375.01 on Friday. The business’s 50 day moving average is $336.93 and its 200-day moving average is $300.72. The stock has a market cap of $26.14 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a twelve month low of $230.68 and a twelve month high of $377.97.

Insider Activity

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the company’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 completion of the sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay 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 transaction, the chief accounting officer now owns 1,797 shares in the company, valued at approximately $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. Corporate insiders own 6.10% of the company’s stock.

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.