Paloma Partners Management Co Purchases New Stake in Corpay, Inc. (NYSE:CPAY)

Paloma Partners Management Co purchased a new position in Corpay, Inc. (NYSE:CPAY) in the third quarter, HoldingsChannel reports. The fund purchased 4,104 shares of the company’s stock, valued at approximately $1,284,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CPAY. Albion Financial Group UT bought a new stake in shares of Corpay in the 3rd quarter worth approximately $27,000. LGT Financial Advisors LLC acquired a new position in shares of Corpay in the 2nd quarter valued at $33,000. Blue Trust Inc. increased its position in shares of Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Corpay in the second quarter valued at approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Corpay during the second quarter worth $40,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Price Performance

Shares of NYSE:CPAY opened at $382.94 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $26.69 billion, a P/E ratio of 27.31, a P/E/G ratio of 1.49 and a beta of 1.21. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $385.30. The company’s fifty day moving average price is $345.66 and its 200 day moving average price is $304.65.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CPAY shares. Jefferies Financial Group boosted their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets raised their price target on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price target on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Citigroup boosted their price target on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $363.93.

Insider Transactions at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the sale, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $2,960,320.00. Following the completion of 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. Corporate 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.