Oppenheimer Asset Management Inc. Acquires 2,355 Shares of Corpay, Inc. (NYSE:CPAY)

Oppenheimer Asset Management Inc. lifted its holdings in Corpay, Inc. (NYSE:CPAY) by 66.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,888 shares of the company’s stock after purchasing an additional 2,355 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Corpay were worth $1,842,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CPAY. Albion Financial Group UT bought a new stake in Corpay during the 3rd quarter worth about $27,000. LGT Financial Advisors LLC bought a new stake in Corpay during the second quarter worth about $33,000. Blue Trust Inc. increased its holdings in Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the last quarter. Innealta Capital LLC bought a new stake in Corpay during the second quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Corpay in the second quarter valued at $40,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Activity

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 transaction of $1,116,160.50. Following the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Corpay Stock Down 1.9 %

Shares of CPAY opened at $363.36 on Monday. The firm has a 50 day simple moving average of $331.97 and a two-hundred day simple moving average of $298.77. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.02. Corpay, Inc. has a one year low of $230.68 and a one year high of $375.98. The company has a market cap of $25.33 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.42 and a beta of 1.21.

Analysts Set New Price Targets

A number of brokerages have weighed in on CPAY. Raymond James lowered their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company lifted their price target on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Bank of America upped their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $363.93.

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.