Oak Thistle LLC Invests $302,000 in Corpay, Inc. (NYSE:CPAY)

Oak Thistle LLC acquired a new position in Corpay, Inc. (NYSE:CPAY) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 893 shares of the company’s stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Albion Financial Group UT bought a new position in shares of Corpay in the 3rd quarter worth $27,000. Versant Capital Management Inc grew its position in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares in the last quarter. Huntington National Bank increased its stake in Corpay by 43.0% in 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 during the last quarter. Quarry LP purchased a new stake in Corpay during the third quarter valued at about $42,000. Finally, Continuum Advisory LLC raised its position in Corpay by 47.9% during the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock valued at $44,000 after purchasing an additional 46 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Performance

CPAY stock opened at $370.91 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $385.30. The company has a market cap of $25.86 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 1.17 and a beta of 1.26. The stock’s fifty day moving average price is $359.85 and its 200-day moving average price is $325.13.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CPAY. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a report on Wednesday, January 8th. Bank of America upped their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets lifted their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Jefferies Financial Group upped their price objective 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 increased their target price on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $381.43.

Insider Buying and Selling at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the 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 completion of the sale, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

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.