Everence Capital Management Inc. Takes $342,000 Position in Corpay, Inc. (NYSE:CPAY)

Everence Capital Management Inc. bought a new position in shares of Corpay, Inc. (NYSE:CPAY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,010 shares of the company’s stock, valued at approximately $342,000.

A number of other hedge funds also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its position in Corpay by 66.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after purchasing an additional 2,355 shares in the last quarter. Swedbank AB lifted its position in shares of Corpay by 46.3% during the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after buying an additional 58,900 shares during the last quarter. Wilkins Investment Counsel Inc. boosted its stake in Corpay by 16.8% in the second quarter. Wilkins Investment Counsel Inc. now owns 22,425 shares of the company’s stock valued at $5,974,000 after buying an additional 3,225 shares in the last quarter. Retireful LLC bought a new position in Corpay in the third quarter valued at about $702,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Corpay in the third quarter valued at about $527,000. Institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Barclays boosted their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Jefferies Financial Group increased their price target on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America increased their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley upped 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. Four investment 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. According to data from MarketBeat, Corpay has an average rating of “Moderate Buy” and a consensus target price of $368.57.

Corpay Trading Up 0.2 %

CPAY opened at $342.66 on Tuesday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $385.30. The company has a fifty day moving average of $356.32 and a 200-day moving average of $320.96. The stock has a market cap of $23.89 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.40 and a beta of 1.24. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

Insider Buying and Selling at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction 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 transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction 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 directly owns 1,797 shares in the company, valued at approximately $664,961.88. This represents 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.