Charles Schwab Investment Management Inc. Purchases 1,749 Shares of Corpay, Inc. (NYSE:CPAY)

Charles Schwab Investment Management Inc. raised its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 458,477 shares of the company’s stock after purchasing an additional 1,749 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Corpay were worth $143,393,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CPAY. Boston Partners bought a new stake in Corpay in the 1st quarter worth about $553,667,000. Mawer Investment Management Ltd. raised its holdings in shares of Corpay by 1.1% during the second quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company’s stock valued at $313,644,000 after purchasing an additional 12,338 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Corpay by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock valued at $191,497,000 after purchasing an additional 70,408 shares during the period. American Century Companies Inc. boosted its holdings in Corpay by 1,734.1% in the second quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock worth $106,740,000 after purchasing an additional 378,817 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its position in Corpay by 12.2% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 266,272 shares of the company’s stock worth $70,938,000 after purchasing an additional 28,959 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling at Corpay

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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay 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 transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CPAY has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Bank of America raised their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods upped their price target on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Finally, Raymond James lowered their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $363.93.

Corpay Stock Up 1.2 %

NYSE CPAY opened at $379.87 on Monday. The stock has a 50 day moving average price of $338.38 and a 200-day moving average price of $301.21. Corpay, Inc. has a one year low of $230.68 and a one year high of $380.00. The company has a market capitalization of $26.48 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.47 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05.

About Corpay

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.