Cerity Partners LLC Has $9.17 Million Stake in Corpay, Inc. (NYSE:CPAY)

Cerity Partners LLC raised its stake in Corpay, Inc. (NYSE:CPAY) by 17.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,310 shares of the company’s stock after acquiring an additional 4,315 shares during the quarter. Cerity Partners LLC’s holdings in Corpay were worth $9,167,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Camden National Bank bought a new position in Corpay in the third quarter valued at about $237,000. Eagle Asset Management Inc. lifted its stake in shares of Corpay by 2.4% in the third quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock worth $111,779,000 after acquiring an additional 8,378 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Corpay by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock valued at $143,393,000 after acquiring an additional 1,749 shares during the last quarter. Banco Santander S.A. acquired a new stake in Corpay during the 3rd quarter valued at approximately $668,000. Finally, Cypress Capital Group bought a new position in Corpay during the 3rd quarter worth approximately $555,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction that occurred 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 sale, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CPAY shares. Barclays boosted their target price on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Wells Fargo & Company raised their price objective on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group upped their target price on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley boosted their price objective on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and an average target price of $363.93.

Corpay Stock Up 0.1 %

CPAY stock opened at $382.04 on Wednesday. Corpay, Inc. has a 1-year low of $230.68 and a 1-year high of $385.30. The stock has a market cap of $26.63 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.49 and a beta of 1.21. The stock’s fifty day simple moving average is $341.36 and its two-hundred day simple moving average is $302.59. 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 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.