Janus Henderson Group PLC Raises Stake in Corpay, Inc. (NYSE:CPAY)

Janus Henderson Group PLC grew its position in shares of Corpay, Inc. (NYSE:CPAY) by 14.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,861 shares of the company’s stock after purchasing an additional 1,014 shares during the period. Janus Henderson Group PLC’s holdings in Corpay were worth $2,460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC lifted its stake in Corpay by 3.0% during the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after purchasing an additional 78,880 shares during the last quarter. Mawer Investment Management Ltd. lifted its position in Corpay by 1.1% in the 2nd quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company’s stock worth $313,644,000 after buying an additional 12,338 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Corpay by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock worth $191,497,000 after buying an additional 70,408 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Corpay by 0.4% during 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. Finally, American Century Companies Inc. raised its stake in shares of Corpay by 1,734.1% during the second quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock worth $106,740,000 after acquiring an additional 378,817 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

CPAY has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods increased their price target on shares of Corpay from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday. Jefferies Financial Group boosted their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Barclays raised their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.71.

Corpay Price Performance

CPAY stock opened at $361.31 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $25.19 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.43 and a beta of 1.24. The firm has a 50 day moving average price of $355.66 and a 200-day moving average price of $310.01. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $385.30.

Insider Transactions at Corpay

In other 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 completion of the sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

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.