GAMMA Investing LLC Raises Stock Position in Corpay, Inc. (NYSE:CPAY)

GAMMA Investing LLC boosted its stake in Corpay, Inc. (NYSE:CPAY) by 23.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,460 shares of the company’s stock after acquiring an additional 282 shares during the quarter. GAMMA Investing LLC’s holdings in Corpay were worth $494,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CPAY. Versant Capital Management Inc boosted its stake in shares of Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares during the period. JPMorgan Chase & Co. increased its position in shares of Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after acquiring an additional 120,578 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Corpay by 2.6% in the third quarter. Principal Financial Group Inc. now owns 86,539 shares of the company’s stock valued at $27,066,000 after purchasing an additional 2,175 shares during the last quarter. American Trust acquired a new stake in Corpay during the 3rd quarter valued at approximately $719,000. Finally, Peapack Gladstone Financial Corp boosted its stake in shares of Corpay by 0.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 40,416 shares of the company’s stock valued at $12,640,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Trading Up 0.6 %

NYSE:CPAY opened at $341.85 on Monday. The stock has a market cap of $23.83 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.43 and a beta of 1.26. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $385.30. The business has a fifty day moving average of $356.25 and a 200-day moving average of $320.39.

Insider Activity at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the transaction, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were 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 $664,961.88. The trade was 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 currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CPAY shares. Keefe, Bruyette & Woods upped their price target on shares of Corpay from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company increased their price target on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. BMO Capital Markets upped their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Citigroup lifted their target price on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Jefferies Financial Group upped their price target on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Four research 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 stock has a consensus rating of “Moderate Buy” and an average target price of $369.29.

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.