3,091 Shares in Corpay, Inc. (NYSE:CPAY) Bought by Freedom Investment Management Inc.

Freedom Investment Management Inc. bought a new position in Corpay, Inc. (NYSE:CPAYFree Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,091 shares of the company’s stock, valued at approximately $967,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB grew its stake in shares of Corpay by 26.9% during the 2nd quarter. Swedbank AB now owns 127,217 shares of the company’s stock worth $33,892,000 after acquiring an additional 27,000 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Corpay during the 1st quarter worth about $10,171,000. Janus Henderson Group PLC bought a new stake in Corpay during the 1st quarter worth about $2,827,000. TCW Group Inc. boosted its stake in shares of Corpay by 75.2% during the 2nd quarter. TCW Group Inc. now owns 17,579 shares of the company’s stock worth $4,683,000 after buying an additional 7,543 shares during the last quarter. Finally, Securian Asset Management Inc. bought a new position in shares of Corpay in the 2nd quarter valued at about $1,042,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPAY has been the subject of several recent research reports. Citigroup increased their price target on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods increased their price target on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. BMO Capital Markets lifted their price objective on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $363.93.

Check Out Our Latest Report on CPAY

Corpay Price Performance

Corpay stock opened at $380.62 on Friday. The company has a market capitalization of $26.53 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.49 and a beta of 1.21. The stock’s 50 day moving average is $344.18 and its 200-day moving average is $303.68. 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 12 month low of $231.30 and a 12 month high of $385.30.

Insiders Place Their Bets

In related 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 value of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the 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 in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Corpay Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corpay (NYSE:CPAY)

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