Corpay, Inc. (NYSE:CPAY) Stock Position Raised by First Hawaiian Bank

First Hawaiian Bank boosted its holdings in Corpay, Inc. (NYSE:CPAY) by 202.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,601 shares of the company’s stock after acquiring an additional 4,417 shares during the period. First Hawaiian Bank’s holdings in Corpay were worth $2,234,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the company’s 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 owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay 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 approximately $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. Corporate insiders own 6.10% of the company’s stock.

Corpay Trading Up 2.9 %

Shares of NYSE:CPAY opened at $357.74 on Thursday. The stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.40 and a beta of 1.24. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30. The company has a 50 day moving average price of $357.15 and a 200 day moving average price of $321.78. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CPAY shares. Keefe, Bruyette & Woods reduced their target price on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday. Jefferies Financial Group boosted their price objective on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays raised their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Morgan Stanley boosted their price target on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Bank of America raised their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $377.50.

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.