Quest Partners LLC Purchases 1,326 Shares of Corpay, Inc. (NYSE:CPAY)

Quest Partners LLC grew its holdings in Corpay, Inc. (NYSE:CPAY) by 97.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,691 shares of the company’s stock after acquiring an additional 1,326 shares during the quarter. Quest Partners LLC’s holdings in Corpay were worth $842,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CPAY. Ceera Investments LLC grew its stake in shares of Corpay by 22.8% in the third quarter. Ceera Investments LLC now owns 16,258 shares of the company’s stock worth $5,085,000 after acquiring an additional 3,022 shares during the last quarter. Natixis Advisors LLC grew its position in Corpay by 94.3% in the 3rd quarter. Natixis Advisors LLC now owns 27,453 shares of the company’s stock worth $8,586,000 after purchasing an additional 13,322 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Corpay by 728.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 44,889 shares of the company’s stock worth $14,039,000 after purchasing an additional 39,468 shares during the period. Empirical Finance LLC raised its position in shares of Corpay by 1.8% during the third quarter. Empirical Finance LLC now owns 2,493 shares of the company’s stock valued at $780,000 after buying an additional 43 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Corpay by 7.3% during the third quarter. CIBC Asset Management Inc now owns 10,196 shares of the company’s stock valued at $3,189,000 after buying an additional 691 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on CPAY shares. Morgan Stanley boosted their price target on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. BMO Capital Markets boosted their price objective on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $363.93.

Corpay Stock Performance

NYSE CPAY opened at $375.01 on Friday. Corpay, Inc. has a 1-year low of $230.68 and a 1-year high of $377.97. The company has a 50 day moving average of $336.93 and a 200-day moving average of $300.72. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm has a market cap of $26.14 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.44 and a beta of 1.21.

Insider Activity at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their position. The transaction was disclosed in a legal filing 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 stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Corpay 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.