Fifth Third Wealth Advisors LLC Acquires Shares of 650 Corpay, Inc. (NYSE:CPAY)

Fifth Third Wealth Advisors LLC bought a new position in Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 650 shares of the company’s stock, valued at approximately $220,000.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Corpay in the third quarter worth $40,497,000. JPMorgan Chase & Co. grew its position in Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares during the last quarter. Prana Capital Management LP purchased a new stake in Corpay during the 3rd quarter valued at about $31,541,000. FMR LLC increased its stake in Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after purchasing an additional 78,880 shares in the last quarter. Finally, Stanley Capital Management LLC purchased a new position in Corpay in the second quarter worth about $18,593,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Price Performance

NYSE CPAY opened at $370.91 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The business’s fifty day moving average is $359.95 and its 200 day moving average is $325.86. The company has a market capitalization of $25.86 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.17 and a beta of 1.26. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $385.30.

Insider Activity at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their position. 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 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 owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of recent analyst reports. Citigroup started coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. BMO Capital Markets upped their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Bank of America lifted their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group upped their target price on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lifted their price target on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $381.43.

Corpay Company 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.