Cypress Capital Group Invests $555,000 in Corpay, Inc. (NYSE:CPAY)

Cypress Capital Group acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,775 shares of the company’s stock, valued at approximately $555,000.

Other large investors have also bought and sold shares of the company. Albion Financial Group UT bought a new position in shares of Corpay during the third quarter valued at about $27,000. LGT Financial Advisors LLC bought a new stake in shares of Corpay in the second quarter valued at approximately $33,000. Huntington National Bank grew its stake in Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after acquiring an additional 40 shares in the last quarter. Innealta Capital LLC purchased a new position in Corpay during the second quarter valued at approximately $36,000. Finally, Blue Trust Inc. grew its stake in Corpay by 246.2% during the second 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. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction 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 sale, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay 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 completion of the sale, the director now 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. 6.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Raymond James lowered their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Barclays upped their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Citigroup upped their target price on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

Corpay Stock Up 1.6 %

Corpay stock opened at $375.01 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 52 week low of $230.68 and a 52 week high of $377.97. The business’s 50-day moving average price is $336.93 and its 200 day moving average price is $300.72. The firm has a market cap of $26.14 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21.

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.